CoStar Group (NASDAQ:CSGP) Releases Quarterly Earnings Results, Beats Estimates By $0.34 EPS
CoStar Group (NASDAQ:CSGP) issued its quarterly earnings data on Tuesday. The technology company reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.34, MarketWatch Earnings reports. CoStar Group had a return on equity of 10.00% and a net margin of 19.76%. The company had revenue of $392.00 million during the quarter, compared to analyst estimates of $390.18 million. During the same quarter in the previous year, the firm earned $2.23 earnings per share. CoStar Group’s revenue was up 14.0% on a year-over-year basis.
CSGP stock traded up $2.18 during midday trading on Friday, hitting $834.86. The company had a trading volume of 14,485 shares, compared to its average volume of 339,936. The company has a current ratio of 8.75, a quick ratio of 8.75 and a debt-to-equity ratio of 0.22. CoStar Group has a 52 week low of $500.24 and a 52 week high of $939.00. The stock’s 50 day moving average price is $706.05 and its 200 day moving average price is $660.64. The stock has a market cap of $32.58 billion, a price-to-earnings ratio of 102.55 and a beta of 1.10.
Several brokerages have recently commented on CSGP. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Bank of America initiated coverage on CoStar Group in a report on Wednesday, July 8th. They set a “buy” rating and a $850.00 price objective for the company. Citigroup boosted their target price on CoStar Group from $700.00 to $815.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. JMP Securities boosted their target price on CoStar Group from $725.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, SunTrust Banks boosted their target price on CoStar Group from $695.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. CoStar Group currently has a consensus rating of “Buy” and a consensus price target of $791.08.
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.
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