Mister Car Wash (NYSE:MCW) Announces Earnings Results, Beats Expectations By $0.01 EPS

Mister Car Wash (NYSE:MCWGet Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01, Briefing.com reports. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. Mister Car Wash’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS.

Mister Car Wash Trading Up 16.4%

Shares of MCW stock traded up $0.99 on Wednesday, hitting $7.00. The stock had a trading volume of 6,495,816 shares, compared to its average volume of 1,259,305. The firm has a market capitalization of $2.29 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.65 and a beta of 1.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The company’s 50 day moving average price is $5.80 and its 200-day moving average price is $5.51. Mister Car Wash has a 1 year low of $4.61 and a 1 year high of $8.60.

Trending Headlines about Mister Car Wash

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Institutional Investors Weigh In On Mister Car Wash

A number of large investors have recently modified their holdings of MCW. Dimensional Fund Advisors LP raised its holdings in Mister Car Wash by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,607,392 shares of the company’s stock worth $36,738,000 after purchasing an additional 559,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Mister Car Wash by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,166,833 shares of the company’s stock valued at $37,063,000 after acquiring an additional 1,327,745 shares during the period. State Street Corp lifted its position in Mister Car Wash by 2.6% during the 4th quarter. State Street Corp now owns 3,633,753 shares of the company’s stock worth $20,204,000 after acquiring an additional 92,304 shares during the period. Millennium Management LLC lifted its position in shares of Mister Car Wash by 28.1% during the 3rd quarter. Millennium Management LLC now owns 2,641,893 shares of the company’s stock valued at $14,081,000 after acquiring an additional 579,213 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Mister Car Wash by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,619,984 shares of the company’s stock worth $14,570,000 after acquiring an additional 32,749 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MCW shares. The Goldman Sachs Group set a $5.25 target price on Mister Car Wash in a research report on Friday, October 31st. Mizuho set a $8.00 price objective on Mister Car Wash in a research report on Thursday, October 30th. Morgan Stanley reduced their target price on shares of Mister Car Wash from $7.50 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Raymond James Financial reissued an “outperform” rating and set a $8.00 price target on shares of Mister Car Wash in a research report on Thursday, October 30th. Finally, Piper Sandler cut shares of Mister Car Wash from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $6.00 in a report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.25.

Check Out Our Latest Stock Analysis on MCW

Mister Car Wash Company Profile

(Get Free Report)

Mister Car Wash, traded on the NYSE under the ticker MCW, is a leading provider of vehicle cleaning services in the United States. The company specializes in a tiered range of wash offerings, including express exterior washes, full-service interior and exterior cleaning, and premium detailing services. In addition to one-time washes, Mister Car Wash markets unlimited monthly membership plans that grant customers access to recurring washes at participating locations.

Founded in 1969 and headquartered in Houston, Texas, Mister Car Wash has grown from a single facility to one of the largest car wash chains in the country.

See Also

Earnings History for Mister Car Wash (NYSE:MCW)

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