Carvana (NYSE:CVNA) Posts Earnings Results, Beats Expectations By $0.41 EPS

Carvana (NYSE:CVNA) announced its quarterly earnings data on Wednesday. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41, Briefing.com reports. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business posted $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year.

Carvana Stock Performance

NYSE:CVNA traded up $40.00 during mid-day trading on Thursday, hitting $247.31. 13,374,590 shares of the stock were exchanged, compared to its average volume of 4,829,122. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm’s 50-day simple moving average is $171.06 and its 200 day simple moving average is $135.88. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $259.39. The stock has a market capitalization of $50.10 billion, a price-to-earnings ratio of 111.11 and a beta of 3.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVNA shares. Stephens assumed coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective on the stock. Citigroup increased their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and boosted their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Robert W. Baird lifted their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $208.88.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 15,814 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the sale, the insider now directly owns 37,442,317 shares in the company, valued at $7,531,896,487.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Daniel J. Gill sold 41,163 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $200.11, for a total transaction of $8,237,127.93. Following the transaction, the insider now directly owns 283,287 shares of the company’s stock, valued at $56,688,561.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 15,814 shares of Carvana stock in a transaction on Friday, October 25th. The stock was sold at an average price of $201.16, for a total value of $3,181,144.24. Following the sale, the insider now owns 37,442,317 shares in the company, valued at $7,531,896,487.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,780,891 shares of company stock valued at $465,902,485. 17.12% of the stock is owned by company insiders.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.