CoStar Group, Inc. to Post Q3 2017 Earnings of $0.96 Per Share, B. Riley Forecasts (CSGP)
CoStar Group, Inc. (NASDAQ:CSGP) – Investment analysts at B. Riley issued their Q3 2017 EPS estimates for CoStar Group in a research note issued on Monday. B. Riley analyst M. Crawford forecasts that the technology company will earn $0.96 per share for the quarter. B. Riley has a “Buy” rating and a $335.00 price target on the stock. B. Riley also issued estimates for CoStar Group’s Q4 2017 earnings at $1.11 EPS, FY2017 earnings at $3.60 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $1.08 EPS, Q3 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.77 EPS and FY2018 earnings at $5.37 EPS.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The firm had revenue of $237.20 million during the quarter, compared to the consensus estimate of $234.38 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year.
A number of other brokerages have also recently issued reports on CSGP. Needham & Company LLC upped their target price on CoStar Group from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $310.00 target price on shares of CoStar Group in a research report on Wednesday, September 13th. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Finally, Citigroup Inc. set a $320.00 target price on CoStar Group and gave the company a “buy” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $312.57.
Shares of CoStar Group (NASDAQ:CSGP) opened at 274.39 on Wednesday. CoStar Group has a 12-month low of $179.22 and a 12-month high of $287.96. The firm has a market cap of $9.01 billion, a P/E ratio of 92.11 and a beta of 1.51. The company’s 50 day moving average price is $278.56 and its 200-day moving average price is $256.90.
Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its position in CoStar Group by 12.3% during the 2nd quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock worth $106,000 after acquiring an additional 44 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in CoStar Group during the 2nd quarter worth approximately $134,000. LS Investment Advisors LLC lifted its position in CoStar Group by 3.5% during the 2nd quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $186,000 after acquiring an additional 24 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in CoStar Group during the 2nd quarter worth approximately $188,000. Finally, Capstone Asset Management Co. acquired a new stake in CoStar Group during the 2nd quarter worth approximately $211,000. 99.84% of the stock is owned by institutional investors.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $273.15, for a total transaction of $482,656.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.98% of the stock is currently owned by company insiders.
About CoStar Group
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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