Copart (CPRT) to Release Earnings on Wednesday

Copart (NASDAQ:CPRTGet Rating) will post its quarterly earnings results after the market closes on Wednesday, November 16th. Analysts expect the company to announce earnings of $0.55 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Copart (NASDAQ:CPRTGet Rating) last released its quarterly earnings data on Wednesday, September 7th. The business services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Copart had a net margin of 31.14% and a return on equity of 25.53%. The firm had revenue of $883.39 million during the quarter, compared to analysts’ expectations of $874.14 million. During the same period in the previous year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. On average, analysts expect Copart to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Copart Trading Up 1.8 %

NASDAQ:CPRT opened at $61.56 on Monday. The company has a 50 day simple moving average of $56.11 and a two-hundred day simple moving average of $57.52. The company has a market cap of $29.31 billion, a PE ratio of 27.18 and a beta of 1.16. Copart has a 12 month low of $51.10 and a 12 month high of $80.56.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CPRT. Stephens dropped their target price on Copart to $70.50 in a research report on Tuesday, September 13th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Robert W. Baird dropped their price target on shares of Copart from $75.00 to $67.50 in a research note on Friday, September 9th.

Hedge Funds Weigh In On Copart

Hedge funds have recently modified their holdings of the company. Cresset Asset Management LLC lifted its stake in shares of Copart by 16.8% during the 1st quarter. Cresset Asset Management LLC now owns 5,486 shares of the business services provider’s stock valued at $688,000 after buying an additional 788 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Copart by 22.0% in the first quarter. Wetherby Asset Management Inc. now owns 4,867 shares of the business services provider’s stock valued at $611,000 after acquiring an additional 877 shares in the last quarter. Toroso Investments LLC boosted its stake in shares of Copart by 12.8% in the first quarter. Toroso Investments LLC now owns 4,392 shares of the business services provider’s stock worth $551,000 after acquiring an additional 497 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of Copart during the first quarter worth about $504,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Copart during the second quarter worth about $498,000. 80.92% of the stock is currently owned by institutional investors.

Copart Company Profile

(Get Rating)

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

Further Reading

Earnings History for Copart (NASDAQ:CPRT)

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