Cars.com (NYSE:CARS) Issues Quarterly Earnings Results

Cars.com (NYSE:CARS) released its earnings results on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02), Briefing.com reports. The business had revenue of $181.57 million for the quarter, compared to analysts’ expectations of $181.37 million. Cars.com had a return on equity of 17.43% and a net margin of 5.71%.Cars.com’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS.

Cars.com Trading Up 0.4%

CARS traded up $0.05 on Friday, hitting $11.14. The company had a trading volume of 1,590,735 shares, compared to its average volume of 816,485. The company’s fifty day moving average price is $11.90 and its 200 day moving average price is $11.82. Cars.com has a 1 year low of $9.56 and a 1 year high of $20.47. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.94. The firm has a market cap of $684.19 million, a P/E ratio of 17.96 and a beta of 1.74.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARS. Wall Street Zen upgraded shares of Cars.com from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of Cars.com in a research note on Thursday, October 30th. UBS Group upped their price target on Cars.com from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Zacks Research cut Cars.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, B. Riley reiterated a “buy” rating and set a $22.00 price objective (up previously from $21.00) on shares of Cars.com in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.90.

Institutional Investors Weigh In On Cars.com

A number of institutional investors and hedge funds have recently made changes to their positions in CARS. JPMorgan Chase & Co. grew its stake in Cars.com by 143.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 531,486 shares of the company’s stock worth $6,495,000 after purchasing an additional 313,128 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Cars.com by 62.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 56,070 shares of the company’s stock valued at $685,000 after buying an additional 21,603 shares during the period. State of Wyoming acquired a new position in shares of Cars.com during the second quarter worth about $115,000. Public Sector Pension Investment Board increased its stake in shares of Cars.com by 4.4% during the second quarter. Public Sector Pension Investment Board now owns 197,212 shares of the company’s stock worth $2,337,000 after buying an additional 8,341 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Cars.com by 6.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 76,904 shares of the company’s stock worth $912,000 after buying an additional 4,629 shares during the period. 89.15% of the stock is owned by hedge funds and other institutional investors.

Cars.com Company Profile

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.