Wall Street brokerages expect Copart, Inc. (NASDAQ:CPRT) to report $0.58 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Copart’s earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.62. Copart reported earnings of $0.47 per share during the same quarter last year, which indicates a positive year over year growth rate of 23.4%. The firm is expected to report its next earnings results on Tuesday, November 19th.
On average, analysts expect that Copart will report full year earnings of $2.67 per share for the current fiscal year, with EPS estimates ranging from $2.50 to $3.03. For the next year, analysts expect that the firm will post earnings of $2.90 per share, with EPS estimates ranging from $2.70 to $2.98. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Copart.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $542.60 million during the quarter, compared to the consensus estimate of $517.84 million. Copart had a return on equity of 32.83% and a net margin of 28.98%. Copart’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share.
Several analysts recently weighed in on CPRT shares. Guggenheim upgraded Copart from a “neutral” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Friday, October 18th. Robert W. Baird set a $85.00 price objective on Copart and gave the company a “buy” rating in a report on Friday, September 6th. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Wednesday, September 11th. BidaskClub lowered Copart from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, ValuEngine lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $80.40.
A number of institutional investors and hedge funds have recently bought and sold shares of CPRT. Morgan Stanley grew its stake in shares of Copart by 64.3% during the second quarter. Morgan Stanley now owns 5,865,640 shares of the business services provider’s stock worth $438,398,000 after acquiring an additional 2,296,528 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Copart by 8,848.6% during the second quarter. Nuveen Asset Management LLC now owns 1,459,779 shares of the business services provider’s stock worth $109,104,000 after acquiring an additional 1,443,466 shares during the last quarter. BlackRock Inc. grew its stake in shares of Copart by 7.6% during the second quarter. BlackRock Inc. now owns 15,851,891 shares of the business services provider’s stock worth $1,184,771,000 after acquiring an additional 1,114,752 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Copart during the second quarter worth about $28,566,000. Finally, AXA grew its stake in shares of Copart by 328.8% during the second quarter. AXA now owns 482,000 shares of the business services provider’s stock worth $36,025,000 after acquiring an additional 369,600 shares during the last quarter. Institutional investors own 80.97% of the company’s stock.
CPRT traded down $0.16 during trading on Tuesday, reaching $81.46. The company had a trading volume of 1,541,200 shares, compared to its average volume of 1,340,618. The company has a quick ratio of 2.36, a current ratio of 2.44 and a debt-to-equity ratio of 0.22. The business has a 50 day simple moving average of $81.80 and a 200-day simple moving average of $75.82. The stock has a market cap of $19.11 billion, a P/E ratio of 36.20, a PEG ratio of 1.54 and a beta of 0.81. Copart has a 52 week low of $44.61 and a 52 week high of $85.31.
Copart Company Profile
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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