Cars.com (NYSE:CARS) Announces Earnings Results, Beats Estimates By $0.78 EPS
Cars.com (NYSE:CARS) announced its earnings results on Thursday. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.78, Bloomberg Earnings reports. Cars.com had a positive return on equity of 11.67% and a negative net margin of 224.10%. The company had revenue of $102.01 million during the quarter, compared to analysts’ expectations of $94.32 million.
Shares of NYSE CARS traded down $0.20 during midday trading on Friday, hitting $8.12. 2,358,612 shares of the company’s stock were exchanged, compared to its average volume of 1,205,226. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.49 and a quick ratio of 2.96. Cars.com has a twelve month low of $3.25 and a twelve month high of $19.38. The company has a market cap of $542.50 million, a PE ratio of -0.44 and a beta of 2.01. The firm’s fifty day simple moving average is $6.13 and its 200-day simple moving average is $7.22.
A number of brokerages recently commented on CARS. Zacks Investment Research cut Cars.com from a “buy” rating to a “hold” rating in a report on Friday, May 8th. B. Riley initiated coverage on Cars.com in a research note on Friday, June 19th. They issued a “hold” rating and a $7.50 price objective for the company. Barrington Research reiterated a “buy” rating and issued a $16.00 price objective on shares of Cars.com in a research note on Monday, July 27th. BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of Cars.com in a research note on Thursday, July 9th. Finally, Citigroup cut Cars.com from a “buy” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research note on Friday, May 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Cars.com currently has a consensus rating of “Hold” and a consensus target price of $10.18.
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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