Zacks: Brokerages Anticipate Cars.com Inc. (NYSE:CARS) Will Post Quarterly Sales of $159.92 Million

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Equities analysts expect Cars.com Inc. (NYSE:CARS) to post sales of $159.92 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Cars.com’s earnings. The highest sales estimate is $162.77 million and the lowest is $157.45 million. Cars.com reported sales of $168.51 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.1%. The company is expected to announce its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Cars.com will report full-year sales of $644.47 million for the current financial year, with estimates ranging from $636.96 million to $653.19 million. For the next financial year, analysts anticipate that the firm will report sales of $695.28 million, with estimates ranging from $672.49 million to $724.65 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Cars.com.

Cars.com (NYSE:CARS) last issued its earnings results on Friday, May 10th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $154.20 million during the quarter, compared to analyst estimates of $152.29 million. Cars.com had a return on equity of 7.34% and a net margin of 4.40%. Cars.com’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS.

Several research analysts have recently commented on CARS shares. Barrington Research reiterated a “buy” rating and issued a $37.50 target price on shares of Cars.com in a research report on Monday, May 6th. ValuEngine downgraded Cars.com from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Craig Hallum downgraded Cars.com from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Thursday, February 28th. Zacks Investment Research downgraded Cars.com from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 6th. Finally, DA Davidson cut their price target on Cars.com to $28.00 and set a “positive” rating on the stock in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Cars.com currently has a consensus rating of “Hold” and an average target price of $28.42.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Cars.com by 167.1% during the third quarter. JPMorgan Chase & Co. now owns 183,646 shares of the company’s stock worth $5,071,000 after acquiring an additional 114,894 shares during the last quarter. Quantamental Technologies LLC bought a new position in Cars.com during the fourth quarter valued at $28,000. Oppenheimer Asset Management Inc. bought a new position in Cars.com during the fourth quarter valued at $116,000. Rhumbline Advisers lifted its position in Cars.com by 58.3% during the fourth quarter. Rhumbline Advisers now owns 208,227 shares of the company’s stock valued at $4,477,000 after purchasing an additional 76,729 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Cars.com by 232.9% during the fourth quarter. SG Americas Securities LLC now owns 94,311 shares of the company’s stock valued at $2,028,000 after purchasing an additional 65,977 shares during the last quarter.

Shares of CARS traded down $0.05 during mid-day trading on Wednesday, hitting $21.63. The stock had a trading volume of 12,252 shares, compared to its average volume of 751,363. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.82 and a beta of 0.87. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41. Cars.com has a fifty-two week low of $19.05 and a fifty-two week high of $32.94.

About Cars.com

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.

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