Mister Car Wash (NYSE:MCW) Announces Earnings Results

Mister Car Wash (NYSE:MCW) announced its earnings results on Wednesday. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01, Briefing.com reports. The firm had revenue of $277.91 million for the quarter, compared to analysts’ expectations of $274.41 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.Mister Car Wash’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS.

Mister Car Wash Stock Down 0.5%

NYSE:MCW traded down $0.04 during mid-day trading on Friday, hitting $7.05. The company had a trading volume of 2,169,388 shares, compared to its average volume of 2,538,130. Mister Car Wash has a 1 year low of $4.61 and a 1 year high of $7.98. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 1.65 and a beta of 1.37. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The business has a fifty day simple moving average of $7.01 and a 200-day simple moving average of $6.04.

Analyst Ratings Changes

MCW has been the topic of a number of analyst reports. Morgan Stanley set a $7.00 target price on Mister Car Wash in a report on Thursday, February 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 price objective (down from $8.00) on shares of Mister Car Wash in a report on Monday, February 23rd. William Blair cut Mister Car Wash from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. BMO Capital Markets cut Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 price objective on the stock. in a report on Thursday, February 19th. Finally, Guggenheim cut Mister Car Wash from a “buy” rating to a “neutral” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.10.

Institutional Investors Weigh In On Mister Car Wash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Mister Car Wash by 8.5% during the first quarter. Royal Bank of Canada now owns 1,106,521 shares of the company’s stock worth $8,730,000 after acquiring an additional 86,274 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Mister Car Wash by 20.7% during the first quarter. AQR Capital Management LLC now owns 129,352 shares of the company’s stock worth $1,012,000 after acquiring an additional 22,152 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mister Car Wash by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,310 shares of the company’s stock worth $444,000 after acquiring an additional 2,519 shares during the last quarter. Millennium Management LLC increased its position in shares of Mister Car Wash by 72.9% during the first quarter. Millennium Management LLC now owns 1,540,524 shares of the company’s stock worth $12,155,000 after acquiring an additional 649,448 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Mister Car Wash by 191.7% during the first quarter. Jane Street Group LLC now owns 37,482 shares of the company’s stock worth $296,000 after acquiring an additional 24,633 shares during the last quarter.

About Mister Car Wash

Mister Car Wash, traded on the NYSE under the ticker MCW, is a leading provider of vehicle cleaning services in the United States. The company specializes in a tiered range of wash offerings, including express exterior washes, full-service interior and exterior cleaning, and premium detailing services. In addition to one-time washes, Mister Car Wash markets unlimited monthly membership plans that grant customers access to recurring washes at participating locations.

Founded in 1969 and headquartered in Houston, Texas, Mister Car Wash has grown from a single facility to one of the largest car wash chains in the country.