Mister Car Wash (NYSE:MCW) Posts Quarterly Earnings Results

Mister Car Wash (NYSE:MCW) issued its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01, Briefing.com reports. The company had revenue of $277.91 million for the quarter, compared to analyst estimates of $274.41 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share.

Mister Car Wash Price Performance

Shares of Mister Car Wash stock traded down $0.04 during trading on Friday, reaching $7.05. The company’s stock had a trading volume of 2,294,706 shares, compared to its average volume of 2,539,638. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. Mister Car Wash has a 12-month low of $4.61 and a 12-month high of $7.98. The company has a market capitalization of $2.31 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. The business has a 50 day moving average price of $7.01 and a 200-day moving average price of $6.04.

Analyst Upgrades and Downgrades

MCW has been the topic of several research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price objective (down from $8.00) on shares of Mister Car Wash in a report on Monday, February 23rd. Piper Sandler raised their price target on Mister Car Wash from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. BMO Capital Markets lowered Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 price target on the stock. in a report on Thursday, February 19th. Mizuho reissued a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of Mister Car Wash in a report on Wednesday, February 18th. Finally, William Blair lowered Mister Car Wash from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Mister Car Wash has an average rating of “Hold” and a consensus target price of $7.10.

Institutional Trading of Mister Car Wash

A number of institutional investors have recently modified their holdings of MCW. Bank of America Corp DE boosted its stake in shares of Mister Car Wash by 303.1% in the third quarter. Bank of America Corp DE now owns 1,811,457 shares of the company’s stock valued at $9,655,000 after buying an additional 1,362,094 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Mister Car Wash by 27.4% during 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. AQR Capital Management LLC lifted its position in shares of Mister Car Wash by 230.3% during the 4th quarter. AQR Capital Management LLC now owns 1,502,075 shares of the company’s stock valued at $8,352,000 after acquiring an additional 1,047,297 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Mister Car Wash by 91.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,955,986 shares of the company’s stock valued at $11,755,000 after acquiring an additional 934,611 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Mister Car Wash by 71.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,157,676 shares of the company’s stock valued at $11,997,000 after acquiring an additional 897,755 shares during the period.

Mister Car Wash Company Profile

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.