CoStar Group, Inc. Expected to Earn Q3 2024 Earnings of $0.11 Per Share (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP) – Investment analysts at William Blair reduced their Q3 2024 earnings estimates for shares of CoStar Group in a research report issued to clients and investors on Wednesday, July 24th. William Blair analyst S. Sheldon now expects that the technology company will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.12. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for CoStar Group’s current full-year earnings is $0.44 per share. William Blair also issued estimates for CoStar Group’s Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.21 EPS and Q4 2025 earnings at $0.29 EPS.

A number of other brokerages have also issued reports on CSGP. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada reduced their target price on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday. JMP Securities dropped their price target on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating for the company in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $105.00 price objective on shares of CoStar Group in a research note on Wednesday, April 24th. Finally, Bank of America lowered their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.08.

CoStar Group Price Performance

CSGP opened at $77.84 on Friday. The stock’s 50-day moving average price is $76.99 and its 200 day moving average price is $84.02. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The firm has a market cap of $31.79 billion, a price-to-earnings ratio of 106.63, a PEG ratio of 13.28 and a beta of 0.81. The company has a current ratio of 9.27, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year.

Institutional Trading of CoStar Group

Several institutional investors have recently modified their holdings of the stock. SlateStone Wealth LLC lifted its position in CoStar Group by 95.5% in the second quarter. SlateStone Wealth LLC now owns 25,823 shares of the technology company’s stock valued at $1,914,000 after acquiring an additional 12,615 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after purchasing an additional 124,761 shares during the last quarter. Institute for Wealth Management LLC. boosted its position in shares of CoStar Group by 6.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 20,479 shares of the technology company’s stock valued at $1,518,000 after purchasing an additional 1,260 shares during the period. Atlantic Union Bankshares Corp grew its stake in CoStar Group by 44.7% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 28,098 shares of the technology company’s stock worth $2,083,000 after buying an additional 8,675 shares during the last quarter. Finally, Baskin Financial Services Inc. increased its position in CoStar Group by 8.7% during the second quarter. Baskin Financial Services Inc. now owns 280,680 shares of the technology company’s stock worth $20,810,000 after buying an additional 22,538 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.