CoStar Group (CSGP) Expected to Announce Quarterly Sales of $270.22 Million

Brokerages forecast that CoStar Group (NASDAQ:CSGP) will report $270.22 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for CoStar Group’s earnings, with estimates ranging from $269.50 million to $270.70 million. CoStar Group reported sales of $226.55 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.3%. The business is scheduled to report its next earnings report on Wednesday, April 25th.

On average, analysts expect that CoStar Group will report full year sales of $270.22 million for the current year, with estimates ranging from $1.18 billion to $1.19 billion. For the next year, analysts anticipate that the company will post sales of $1.36 billion per share, with estimates ranging from $1.35 billion to $1.36 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover CoStar Group.

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CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.01. CoStar Group had a net margin of 12.71% and a return on equity of 6.75%. The company had revenue of $253.99 million during the quarter, compared to the consensus estimate of $253.74 million. During the same period in the previous year, the firm posted $1.29 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year.

CSGP has been the subject of a number of research analyst reports. B. Riley lifted their price objective on shares of CoStar Group to $400.00 in a report on Tuesday, February 20th. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Thursday, February 8th. Needham & Company LLC lifted their price objective on shares of CoStar Group to $350.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. SunTrust Banks lifted their price objective on shares of CoStar Group to $410.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $425.00 price objective (up from $320.00) on shares of CoStar Group in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $380.10.

Shares of CSGP stock opened at $361.42 on Friday. CoStar Group has a fifty-two week low of $197.55 and a fifty-two week high of $378.57. The stock has a market cap of $13,489.67, a price-to-earnings ratio of 99.84, a PEG ratio of 3.57 and a beta of 1.61.

In other CoStar Group news, CFO Scott T. Wheeler sold 1,250 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $353.69, for a total value of $442,112.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Klein sold 3,000 shares of the business’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $361.61, for a total transaction of $1,084,830.00. The disclosure for this sale can be found here. Insiders sold 24,271 shares of company stock valued at $8,593,961 over the last three months. 3.09% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of CSGP. Lenox Wealth Advisors Inc. bought a new stake in CoStar Group in the fourth quarter worth $102,000. Cerebellum GP LLC bought a new stake in CoStar Group in the fourth quarter worth $129,000. Corient Capital Partners LLC bought a new stake in CoStar Group in the fourth quarter worth $204,000. Hengehold Capital Management LLC bought a new stake in CoStar Group in the fourth quarter worth $206,000. Finally, IFM Investors Pty Ltd bought a new stake in CoStar Group in the fourth quarter worth $219,000. 98.56% of the stock is owned by institutional investors and hedge funds.

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About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

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