Q2 2023 EPS Estimates for Carvana Co. Boosted by Zacks Research (NYSE:CVNA)

Posted by on Jun 26th, 2023

Carvana Co. (NYSE:CVNA – Get Rating) – Investment analysts at Zacks Research boosted their Q2 2023 earnings per share estimates for Carvana in a research report issued to clients and investors on Thursday, June 22nd. Zacks Research analyst L. Shahu now forecasts that the company will post earnings per share of ($1.83) for the quarter, up from their prior forecast of ($1.85). The consensus estimate for Carvana’s current full-year earnings is ($5.34) per share. Zacks Research also issued estimates for Carvana’s FY2023 earnings at ($7.20) EPS, Q2 2024 earnings at ($1.48) EPS, FY2024 earnings at ($5.90) EPS and FY2025 earnings at ($4.54) EPS.

Several other equities analysts have also recently issued reports on CVNA. JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of Carvana in a research report on Friday, March 3rd. Morgan Stanley began coverage on Carvana in a research report on Monday, May 15th. They issued an “equal weight” rating on the stock. Robert W. Baird lifted their price objective on Carvana from $7.00 to $10.00 in a report on Friday, May 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Carvana from $10.00 to $11.00 in a report on Monday, May 8th. Finally, DA Davidson lifted their price objective on Carvana from $7.00 to $18.00 in a report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.42.

Carvana Stock Down 16.2 %

CVNA opened at $21.41 on Monday. The stock has a market capitalization of $4.05 billion, a P/E ratio of -1.51 and a beta of 2.80. Carvana has a one year low of $3.55 and a one year high of $58.05. The business’s 50-day simple moving average is $13.78 and its 200-day simple moving average is $10.00. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.10 and a current ratio of 1.62.

Carvana (NYSE:CVNA – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported ($1.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.87) by $0.36. Carvana had a negative return on equity of 1,491.81% and a negative net margin of 11.70%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm earned ($2.89) earnings per share. Carvana’s quarterly revenue was down 25.5% on a year-over-year basis.

Institutional Trading of Carvana

A number of institutional investors have recently added to or reduced their stakes in CVNA. Signaturefd LLC boosted its position in Carvana by 39.6% in the 4th quarter. Signaturefd LLC now owns 5,332 shares of the company’s stock valued at $25,000 after buying an additional 1,512 shares during the last quarter. TFC Financial Management Inc. purchased a new position in Carvana in the 1st quarter valued at about $29,000. Captrust Financial Advisors boosted its position in Carvana by 270.9% in the 2nd quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock valued at $30,000 after buying an additional 967 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Carvana by 14,831.6% in the 4th quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock valued at $40,000 after buying an additional 8,454 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in Carvana in the 4th quarter valued at about $49,000. 51.07% of the stock is owned by hedge funds and other institutional investors.

About Carvana

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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

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Earnings History and Estimates for Carvana (NYSE:CVNA)

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