CoStar Group, Inc. (CSGP) Expected to Announce Quarterly Sales of $253.91 Million
Brokerages expect CoStar Group, Inc. (NASDAQ:CSGP) to announce sales of $253.91 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for CoStar Group’s earnings, with the lowest sales estimate coming in at $251.77 million and the highest estimate coming in at $258.98 million. CoStar Group posted sales of $218.31 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that CoStar Group will report full-year sales of $253.91 million for the current fiscal year, with estimates ranging from $963.01 million to $970.22 million. For the next financial year, analysts forecast that the business will report sales of $1.12 billion per share, with estimates ranging from $1.09 billion to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow CoStar Group.
CoStar Group (NASDAQ:CSGP) last issued its earnings results on Wednesday, October 25th. The technology company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.28. The business had revenue of $248.00 million for 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 business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 EPS.
Several brokerages have recently weighed in on CSGP. B. Riley restated a “buy” rating and set a $335.00 target price on shares of CoStar Group in a report on Monday, October 2nd. Citigroup Inc. set a $320.00 target price on CoStar Group and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “strong-buy” rating and set a $317.00 target price on the stock in a report on Tuesday, August 1st. Needham & Company LLC boosted their target price on CoStar Group from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $335.00 target price on shares of CoStar Group in a report on Friday, October 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $329.00.
Several hedge funds have recently added to or reduced their stakes in CSGP. Teachers Advisors LLC raised its position in shares of CoStar Group by 5.0% during the 1st quarter. Teachers Advisors LLC now owns 31,023 shares of the technology company’s stock valued at $6,429,000 after buying an additional 1,476 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CoStar Group by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 75,015 shares of the technology company’s stock valued at $15,544,000 after buying an additional 5,189 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of CoStar Group by 10.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 92,723 shares of the technology company’s stock valued at $19,215,000 after buying an additional 8,907 shares during the period. State Street Corp raised its position in shares of CoStar Group by 3.2% during the 1st quarter. State Street Corp now owns 570,780 shares of the technology company’s stock valued at $118,272,000 after buying an additional 17,777 shares during the period. Finally, Xact Kapitalforvaltning AB raised its position in shares of CoStar Group by 10.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 2,515 shares of the technology company’s stock valued at $663,000 after buying an additional 230 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.
CoStar Group (CSGP) opened at $295.78 on Friday. The firm has a market capitalization of $10,690.97, a P/E ratio of 74.13, a PEG ratio of 4.44 and a beta of 1.56. CoStar Group has a twelve month low of $179.21 and a twelve month high of $301.04. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.15.
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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