Carvana (CVNA) Set to Announce Quarterly Earnings on Thursday

Posted by Defense World Staff on Apr 27th, 2023

Carvana (NYSE:CVNA – Get Rating) is set to announce its earnings results after the market closes on Thursday, May 4th. Analysts expect the company to announce earnings of ($1.84) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Carvana (NYSE:CVNA – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported ($0.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.30) by $1.33. Carvana had a negative return on equity of 1,491.81% and a negative net margin of 11.67%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.02 billion. On average, analysts expect Carvana to post $-7 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

Carvana Trading Down 0.4 %

CVNA stock opened at $7.52 on Thursday. Carvana has a 52 week low of $3.55 and a 52 week high of $79.00. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.05 and a current ratio of 1.77. The company’s 50-day simple moving average is $8.74 and its 200 day simple moving average is $9.02. The company has a market capitalization of $1.42 billion, a PE ratio of -0.48 and a beta of 2.83.

Institutional Trading of Carvana

A number of large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Carvana by 944.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,049 shares of the company’s stock valued at $67,000 after acquiring an additional 12,704 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Carvana during the 4th quarter worth $2,088,000. Public Employees Retirement System of Ohio increased its stake in shares of Carvana by 2.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 53,467 shares of the company’s stock valued at $253,000 after buying an additional 1,121 shares during the period. Capstone Financial Advisors Inc. bought a new stake in shares of Carvana in the fourth quarter valued at about $95,000. Finally, Spruce House Investment Management LLC lifted its stake in Carvana by 52.7% in the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock worth $47,400,000 after acquiring an additional 3,450,000 shares during the period. 63.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVNA has been the subject of several research reports. JMP Securities reiterated a “market outperform” rating and issued a $15.00 target price on shares of Carvana in a research report on Friday, March 3rd. Piper Sandler dropped their price target on shares of Carvana from $45.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 16th. Wedbush reissued an “underperform” rating on shares of Carvana in a research note on Friday, February 24th. DA Davidson raised their target price on Carvana from $5.00 to $7.00 in a research report on Tuesday, February 21st. Finally, Evercore ISI increased their price target on Carvana from $9.00 to $10.00 in a research note on Thursday, March 23rd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.05.

Carvana Company Profile

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Carvana Co is a holding company and an eCommerce platform, which engages in the buying and selling of used cars. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Tempe, AZ.