CoStar Group, Inc. (CSGP) Forecasted to Earn FY2019 Earnings of $7.07 Per Share
CoStar Group, Inc. (NASDAQ:CSGP) – Equities research analysts at B. Riley issued their FY2019 earnings per share (EPS) estimates for CoStar Group in a report issued on Monday. B. Riley analyst M. Crawford forecasts that the technology company will post earnings of $7.07 per share for the year. B. Riley currently has a “Buy” rating and a $335.00 target price on the stock.
Several other equities analysts have also recently issued reports on CSGP. Stephens restated an “overweight” rating and set a $275.00 target price (up previously from $260.00) on shares of CoStar Group in a research note on Monday, June 19th. SunTrust Banks, Inc. upped their target price on shares of CoStar Group from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. BidaskClub cut shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Needham & Company LLC upped their target price on shares of CoStar Group from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Citigroup Inc. set a $320.00 target price on shares of CoStar Group and gave the company a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $312.57.
CoStar Group (NASDAQ CSGP) opened at 276.91 on Thursday. The company’s 50 day moving average is $278.45 and its 200-day moving average is $257.40. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 92.95 and a beta of 1.51. CoStar Group has a 52-week low of $179.22 and a 52-week high of $287.96.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The company had revenue of $237.20 million for the quarter, compared to analyst estimates of $234.38 million. During the same period last year, the firm earned $0.91 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board increased its position in shares of CoStar Group by 33.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 27,761 shares of the technology company’s stock valued at $7,318,000 after purchasing an additional 7,000 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of CoStar Group during the 1st quarter valued at about $1,160,000. Legal & General Group Plc increased its position in shares of CoStar Group by 46.5% during the 1st quarter. Legal & General Group Plc now owns 30,209 shares of the technology company’s stock valued at $6,260,000 after purchasing an additional 9,589 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of CoStar Group by 13.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 9,324 shares of the technology company’s stock valued at $2,458,000 after purchasing an additional 1,135 shares during the last quarter. Finally, KBC Group NV increased its position in shares of CoStar Group by 25.8% during the 2nd quarter. KBC Group NV now owns 4,528 shares of the technology company’s stock valued at $1,194,000 after purchasing an additional 930 shares during the last quarter. 99.84% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Matthew Linnington sold 1,767 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $273.15, for a total transaction of $482,656.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.98% of the stock is owned by corporate insiders.
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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