CoStar Group, Inc. (CSGP) Expected to Announce Quarterly Sales of $253.91 Million
Brokerages predict that CoStar Group, Inc. (NASDAQ:CSGP) will post sales of $253.91 million for the current quarter, according to Zacks. Four analysts have made estimates for CoStar Group’s earnings, with estimates ranging from $251.77 million to $258.98 million. CoStar Group posted sales of $218.31 million during the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The company is expected to report its next earnings report on Wednesday, February 28th.
On average, analysts expect that CoStar Group will report full year sales of $253.91 million for the current financial year, with estimates ranging from $963.01 million to $970.22 million. For the next financial year, analysts expect that the business will report sales of $1.12 billion per share, with estimates ranging from $1.09 billion to $1.17 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover CoStar Group.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.13 by $0.28. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $243.44 million. CoStar Group had a return on equity of 7.63% and a net margin of 11.63%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 EPS.
CSGP has been the subject of several recent research reports. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. B. Riley reaffirmed a “buy” rating and issued a $350.00 price target (up previously from $335.00) on shares of CoStar Group in a report on Thursday, October 26th. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Needham & Company LLC upped their price target on CoStar Group from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $306.00 price target on shares of CoStar Group in a report on Thursday, October 5th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $332.75.
CoStar Group (NASDAQ CSGP) opened at $308.80 on Friday. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $11,161.73, a P/E ratio of 77.39, a price-to-earnings-growth ratio of 4.63 and a beta of 1.56. CoStar Group has a twelve month low of $179.21 and a twelve month high of $311.08.
Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank raised its holdings in shares of CoStar Group by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock worth $106,000 after buying an additional 44 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $134,000. First Manhattan Co. acquired a new position in shares of CoStar Group in the 3rd quarter worth approximately $187,000. LS Investment Advisors LLC raised its holdings in shares of CoStar Group by 3.5% in the 2nd quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $186,000 after buying an additional 24 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $188,000. 92.09% of the stock is owned by institutional investors and hedge funds.
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CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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