Brokers Issue Forecasts for Cars.com Inc’s FY2018 Earnings (CARS)

Cars.com Inc (NASDAQ:CARS) – Equities researchers at Barrington Research lowered their FY2018 earnings per share estimates for Cars.com in a research report issued on Thursday. Barrington Research analyst G. Prestopino now anticipates that the company will earn $0.88 per share for the year, down from their previous forecast of $0.98. Barrington Research has a “Outperform” rating and a $45.00 price objective on the stock. Barrington Research also issued estimates for Cars.com’s FY2019 earnings at $0.99 EPS, FY2020 earnings at $1.25 EPS and FY2021 earnings at $1.55 EPS.

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Several other equities analysts have also issued reports on the company. B. Riley initiated coverage on Cars.com in a research report on Monday, October 2nd. They set a “buy” rating and a $36.00 target price for the company. Craig Hallum initiated coverage on Cars.com in a research note on Thursday, July 20th. They issued a “hold” rating and a $25.00 target price on the stock.

Shares of Cars.com (NASDAQ CARS) opened at $22.80 on Monday. Cars.com has a 12-month low of $19.90 and a 12-month high of $29.47.

A number of hedge funds and other institutional investors have recently modified their holdings of CARS. Schwab Charles Investment Management Inc. grew its holdings in shares of Cars.com by 9.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 371,014 shares of the company’s stock worth $9,873,000 after purchasing an additional 32,967 shares in the last quarter. Investec Asset Management LTD bought a new stake in shares of Cars.com during the 3rd quarter worth $22,794,000. JPMorgan Chase & Co. lifted its position in shares of Cars.com by 129.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,620 shares of the company’s stock worth $9,964,000 after buying an additional 211,678 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Cars.com by 3.2% during the 3rd quarter. Legal & General Group Plc now owns 339,851 shares of the company’s stock worth $9,046,000 after buying an additional 10,384 shares during the last quarter. Finally, FNY Partners Fund LP raised its position in Cars.com by 17.0% in the third quarter. FNY Partners Fund LP now owns 23,857 shares of the company’s stock valued at $634,000 after purchasing an additional 3,470 shares during the last quarter.

About Cars.com

Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.

Earnings History and Estimates for Cars.com (NASDAQ:CARS)

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