Analysts expect Chegg Inc (NYSE:CHGG) to report earnings per share of $0.31 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Chegg’s earnings, with estimates ranging from $0.23 to $0.33. Chegg reported earnings per share of $0.25 during the same quarter last year, which would suggest a positive year over year growth rate of 24%. The company is expected to report its next earnings results on Monday, February 10th.
On average, analysts expect that Chegg will report full-year earnings of $0.87 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.90. For the next year, analysts expect that the company will post earnings of $0.98 per share, with EPS estimates ranging from $0.74 to $1.12. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Chegg.
Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.10. Chegg had a negative net margin of 3.27% and a positive return on equity of 9.53%. The company had revenue of $94.20 million during the quarter, compared to analyst estimates of $89.04 million. During the same period in the prior year, the business posted $0.07 EPS. The firm’s revenue was up 27.0% compared to the same quarter last year.
A number of equities research analysts recently commented on the stock. William Blair assumed coverage on shares of Chegg in a report on Monday, August 12th. They set an “outperform” rating for the company. Craig Hallum upped their price target on shares of Chegg from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Northland Securities reiterated a “buy” rating and set a $48.00 price target on shares of Chegg in a report on Tuesday, September 24th. Citigroup raised shares of Chegg from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $43.00 to $38.50 in a research report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective (up from $44.00) on shares of Chegg in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $43.79.
In other Chegg news, CEO Daniel Rosensweig sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.69, for a total transaction of $6,103,500.00. Following the transaction, the chief executive officer now directly owns 2,322,754 shares of the company’s stock, valued at approximately $94,512,860.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Esther Lem sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $34.40, for a total transaction of $1,720,000.00. Following the completion of the sale, the chief marketing officer now directly owns 270,967 shares in the company, valued at $9,321,264.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 687,266 shares of company stock worth $24,549,233. Insiders own 5.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in shares of Chegg by 7.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,474,426 shares of the technology company’s stock worth $481,388,000 after buying an additional 837,801 shares during the period. Sylebra Capital Ltd grew its position in Chegg by 0.3% during the 2nd quarter. Sylebra Capital Ltd now owns 3,542,705 shares of the technology company’s stock valued at $136,713,000 after purchasing an additional 11,964 shares during the last quarter. Bank of America Corp DE grew its position in Chegg by 223.4% during the 2nd quarter. Bank of America Corp DE now owns 2,812,398 shares of the technology company’s stock valued at $108,530,000 after purchasing an additional 1,942,695 shares during the last quarter. TimesSquare Capital Management LLC grew its position in Chegg by 33.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 2,081,350 shares of the technology company’s stock valued at $80,319,000 after purchasing an additional 519,130 shares during the last quarter. Finally, Northern Trust Corp grew its position in Chegg by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,520,744 shares of the technology company’s stock valued at $58,685,000 after purchasing an additional 19,775 shares during the last quarter.
NYSE:CHGG opened at $34.05 on Wednesday. The company has a fifty day moving average of $31.75 and a 200 day moving average of $37.48. Chegg has a 52 week low of $23.21 and a 52 week high of $48.22. The company has a quick ratio of 13.22, a current ratio of 9.50 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $4.10 billion, a P/E ratio of 378.33, a P/E/G ratio of 5.04 and a beta of 0.95.
Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.
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