Zacks: Analysts Anticipate TrueCar Inc (TRUE) to Announce $0.01 Earnings Per Share
Equities analysts expect TrueCar Inc (NASDAQ:TRUE) to report earnings of $0.01 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for TrueCar’s earnings, with estimates ranging from $0.00 to $0.04. TrueCar posted earnings of ($0.01) per share during the same quarter last year, which would indicate a positive year over year growth rate of 200%. The business is scheduled to report its next earnings report on Thursday, February 15th.
According to Zacks, analysts expect that TrueCar will report full year earnings of $0.03 per share for the current year, with EPS estimates ranging from $0.01 to $0.06. For the next year, analysts anticipate that the firm will post earnings of $0.16 per share, with EPS estimates ranging from $0.06 to $0.24. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for TrueCar.
TRUE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered TrueCar from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price target on shares of TrueCar in a research note on Wednesday, October 11th. Royal Bank of Canada cut their price target on TrueCar from $23.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 7th. B. Riley reaffirmed a “buy” rating and set a $18.00 price target (down previously from $21.00) on shares of TrueCar in a research note on Tuesday, November 7th. Finally, Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective for the company in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.44.
In other news, SVP John Pierantoni sold 2,494 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $11.29, for a total value of $28,157.26. Following the completion of the sale, the senior vice president now directly owns 57,513 shares of the company’s stock, valued at $649,321.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Neeraj Gunsagar sold 10,443 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $11.28, for a total value of $117,797.04. Following the completion of the sale, the executive vice president now directly owns 254,144 shares of the company’s stock, valued at $2,866,744.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,917 shares of company stock valued at $186,940. 15.50% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TRUE. Baker Avenue Asset Management LP increased its stake in TrueCar by 1.9% during the 2nd quarter. Baker Avenue Asset Management LP now owns 37,006 shares of the technology company’s stock worth $738,000 after acquiring an additional 681 shares during the period. Ameritas Investment Partners Inc. increased its stake in TrueCar by 15.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after acquiring an additional 734 shares during the period. B. Riley Financial Inc. increased its stake in TrueCar by 3.7% during the 2nd quarter. B. Riley Financial Inc. now owns 34,095 shares of the technology company’s stock worth $680,000 after acquiring an additional 1,220 shares during the period. Legal & General Group Plc increased its stake in TrueCar by 10.5% during the 2nd quarter. Legal & General Group Plc now owns 19,734 shares of the technology company’s stock worth $389,000 after acquiring an additional 1,872 shares during the period. Finally, Federated Investors Inc. PA increased its stake in TrueCar by 5.3% during the 2nd quarter. Federated Investors Inc. PA now owns 50,258 shares of the technology company’s stock worth $1,002,000 after acquiring an additional 2,544 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.
TrueCar (TRUE) traded up $0.01 during trading on Thursday, reaching $11.39. The company’s stock had a trading volume of 1,278,400 shares, compared to its average volume of 1,120,300. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1,150.00, a price-to-earnings ratio of -32.54 and a beta of 2.70. TrueCar has a one year low of $10.16 and a one year high of $21.75.
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TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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