CoStar Group (CSGP) Scheduled to Post Earnings on Tuesday

CoStar Group (NASDAQ:CSGP) is set to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect CoStar Group to post earnings of $0.06 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. CoStar Group’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect CoStar Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $87.53 on Tuesday. The business has a 50 day simple moving average of $88.97 and a two-hundred day simple moving average of $84.27. CoStar Group has a 12 month low of $67.35 and a 12 month high of $100.38. The stock has a market capitalization of $35.75 billion, a P/E ratio of 95.14, a PEG ratio of 10.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01.

Institutional Investors Weigh In On CoStar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP raised its position in CoStar Group by 75.5% in the first quarter. Quarry LP now owns 358 shares of the technology company’s stock valued at $25,000 after purchasing an additional 154 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in CoStar Group in the second quarter valued at $33,000. Resurgent Financial Advisors LLC purchased a new stake in CoStar Group in the fourth quarter valued at $30,000. Sunbelt Securities Inc. raised its position in CoStar Group by 62.3% in the second quarter. Sunbelt Securities Inc. now owns 500 shares of the technology company’s stock valued at $44,000 after purchasing an additional 192 shares during the period. Finally, West Tower Group LLC purchased a new stake in CoStar Group in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSGP shares. Needham & Company LLC reduced their target price on CoStar Group from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. The Goldman Sachs Group increased their target price on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Bank of America increased their target price on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada increased their price target on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Finally, BTIG Research assumed coverage on CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.08.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.