CarGurus (CARG) Issues Q3 Earnings Guidance
CarGurus (NASDAQ:CARG) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.04-0.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.05. The company issued revenue guidance of $112-113 million, compared to the consensus revenue estimate of $106.36 million.CarGurus also updated its FY18 guidance to $0.22-0.23 EPS.
CarGurus stock traded up $1.68 during trading hours on Thursday, reaching $55.46. 143,825 shares of the company’s stock traded hands, compared to its average volume of 637,343. The company has a market cap of $4.82 billion and a PE ratio of 462.13. CarGurus has a fifty-two week low of $25.85 and a fifty-two week high of $56.17.
CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $110.33 million during the quarter, compared to the consensus estimate of $103.84 million. research analysts expect that CarGurus will post 0.11 earnings per share for the current fiscal year.
In related news, insider Oliver Ian Chrzan sold 6,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $44.29, for a total transaction of $265,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Langley Steinert sold 176,109 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $44.82, for a total value of $7,893,205.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,954,921 shares of company stock valued at $166,435,711. 51.03% of the stock is owned by company insiders.
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.
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