Jefferies Financial Group Equities Analysts Raise Earnings Estimates for Carvana Co. (NYSE:CVNA)

Posted by Defense World Staff on Apr 28th, 2023

Carvana Co. (NYSE:CVNA – Get Rating) – Stock analysts at Jefferies Financial Group increased their Q1 2023 EPS estimates for Carvana in a research note issued to investors on Monday, April 24th. Jefferies Financial Group analyst J. Colantuoni now anticipates that the company will post earnings of ($1.25) per share for the quarter, up from their prior estimate of ($2.18). The consensus estimate for Carvana’s current full-year earnings is ($7.14) per share. Jefferies Financial Group also issued estimates for Carvana’s Q2 2023 earnings at ($1.08) EPS, Q3 2023 earnings at ($1.05) EPS, Q4 2023 earnings at ($1.11) EPS, FY2023 earnings at ($4.49) EPS, FY2024 earnings at ($4.07) EPS and FY2025 earnings at ($3.31) EPS.

Carvana (NYSE:CVNA – Get Rating) last announced its earnings results on Thursday, February 23rd. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.30) by $1.33. Carvana had a negative net margin of 11.67% and a negative return on equity of 1,491.81%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.02 billion.

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

Carvana Trading Down 2.4 %

Shares of Carvana stock opened at $7.34 on Thursday. The firm has a market capitalization of $1.39 billion, a PE ratio of -0.47 and a beta of 2.83. The company has a debt-to-equity ratio of 17.69, a current ratio of 1.77 and a quick ratio of 1.05. The company’s fifty day moving average price is $8.67 and its two-hundred day moving average price is $9.01. Carvana has a 52-week low of $3.55 and a 52-week high of $68.96.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ETF Managers Group LLC bought a new stake in Carvana during the 1st quarter worth approximately $1,507,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Carvana by 944.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,049 shares of the company’s stock valued at $67,000 after buying an additional 12,704 shares during the last quarter. Point72 Middle East FZE acquired a new stake in shares of Carvana in the 4th quarter valued at approximately $2,088,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Carvana by 2.1% in the 4th 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 last quarter. Finally, Capstone Financial Advisors Inc. acquired a new stake in shares of Carvana in the 4th quarter valued at approximately $95,000. 63.62% of the stock is owned by institutional investors.

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.