Cars.com (NYSE:CARS) Announces Earnings Results

by · The Cerbat Gem

Cars.com (NYSE:CARS – Get Free Report) posted its earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02), Briefing.com reports. The firm had revenue of $181.57 million during the quarter, compared to analyst estimates of $181.37 million. Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share.

Cars.com Stock Up 0.4%

Shares of NYSE:CARS traded up $0.05 during trading hours on Friday, reaching $11.14. The stock had a trading volume of 1,590,735 shares, compared to its average volume of 816,485. The stock has a market capitalization of $684.19 million, a price-to-earnings ratio of 17.96 and a beta of 1.74. The firm’s 50 day moving average is $11.90 and its 200-day moving average is $11.82. Cars.com has a 1 year low of $9.56 and a 1 year high of $20.47. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.82 and a current ratio of 1.82.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research note on Monday, November 3rd. B. Riley restated a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of Cars.com in a report on Friday, August 8th. Wall Street Zen raised shares of Cars.com from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of Cars.com in a research report on Thursday, October 30th. Finally, Zacks Research cut Cars.com from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cars.com presently has a consensus rating of “Moderate Buy” and an average price target of $17.90.

Get Our Latest Report on Cars.com

Institutional Trading of Cars.com

A number of hedge funds and other institutional investors have recently bought and sold shares of CARS. BNP Paribas Financial Markets boosted its position in shares of Cars.com by 30.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company’s stock worth $83,000 after acquiring an additional 1,623 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Cars.com by 436.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,960 shares of the company’s stock worth $94,000 after acquiring an additional 6,475 shares in the last quarter. State of Wyoming purchased a new stake in Cars.com during the second quarter worth approximately $115,000. AXA S.A. acquired a new position in Cars.com in the second quarter valued at approximately $126,000. Finally, iSAM Funds UK Ltd purchased a new position in Cars.com in the second quarter valued at approximately $132,000. 89.15% of the stock is currently owned by institutional investors and hedge funds.

About Cars.com

(Get Free Report)

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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