Equities research analysts expect that Carvana Co (NYSE:CVNA) will announce sales of $596.22 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Carvana’s earnings, with estimates ranging from $563.19 million to $618.60 million. Carvana reported sales of $265.05 million during the same quarter last year, which indicates a positive year-over-year growth rate of 124.9%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, February 27th.

On average, analysts expect that Carvana will report full year sales of $1.97 billion for the current fiscal year, with estimates ranging from $1.93 billion to $1.99 billion. For the next fiscal year, analysts expect that the business will post sales of $3.44 billion, with estimates ranging from $2.75 billion to $3.72 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Carvana.

Several research firms have weighed in on CVNA. Seaport Global Securities began coverage on shares of Carvana in a report on Wednesday, February 13th. They issued a “neutral” rating on the stock. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Carvana from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Morgan Stanley began coverage on shares of Carvana in a report on Monday, January 14th. They issued an “underweight” rating and a $23.00 target price on the stock. ValuEngine upgraded shares of Carvana from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Finally, Citigroup began coverage on shares of Carvana in a report on Friday, December 7th. They issued a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Carvana has a consensus rating of “Hold” and a consensus price target of $56.36.

NYSE CVNA traded down $1.37 during trading hours on Thursday, hitting $34.77. 1,164,822 shares of the company’s stock traded hands, compared to its average volume of 1,823,215. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 1.55. The stock has a market cap of $5.21 billion, a PE ratio of -28.74 and a beta of 2.30. Carvana has a 52-week low of $16.02 and a 52-week high of $72.59.

In related news, Director Michael E. Maroone acquired 1,000 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were purchased at an average cost of $43.85 per share, for a total transaction of $43,850.00. Following the acquisition, the director now owns 30,000 shares in the company, valued at approximately $1,315,500. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 86,924 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $45.57, for a total transaction of $3,961,126.68. Following the completion of the transaction, the insider now owns 52,937,458 shares in the company, valued at $2,412,359,961.06. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 936,000 shares of company stock worth $31,068,300. Company insiders own 21.41% of the company’s stock.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Carvana by 13.0% during the 3rd quarter. BlackRock Inc. now owns 2,099,988 shares of the company’s stock worth $124,088,000 after buying an additional 241,002 shares in the last quarter. Credit Suisse AG acquired a new stake in Carvana during the 3rd quarter worth approximately $201,000. First Mercantile Trust Co. lifted its holdings in Carvana by 34.1% during the 4th quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock worth $100,000 after buying an additional 779 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Carvana during the 3rd quarter worth approximately $216,000. Finally, Northern Trust Corp lifted its holdings in Carvana by 154.0% during the 2nd quarter. Northern Trust Corp now owns 380,552 shares of the company’s stock worth $15,831,000 after buying an additional 230,704 shares in the last quarter. Hedge funds and other institutional investors own 28.14% of the company’s stock.

About Carvana

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

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Earnings History and Estimates for Carvana (NYSE:CVNA)

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