Wall Street brokerages forecast that TrueCar Inc (NASDAQ:TRUE) will report earnings of $0.02 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for TrueCar’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.05. TrueCar reported earnings per share of ($0.01) during the same quarter last year, which would suggest a positive year-over-year growth rate of 300%. The company is expected to issue its next quarterly earnings report on Tuesday, May 8th.
On average, analysts expect that TrueCar will report full-year earnings of $0.18 per share for the current fiscal year, with EPS estimates ranging from $0.10 to $0.30. For the next year, analysts anticipate that the firm will report earnings of $0.31 per share, with EPS estimates ranging from $0.19 to $0.42. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow TrueCar.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.04. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.70%. The firm had revenue of $83.13 million for the quarter, compared to the consensus estimate of $81.72 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis.
A number of brokerages recently commented on TRUE. Stephens set a $18.00 price objective on shares of TrueCar and gave the company a “buy” rating in a research report on Friday, February 16th. B. Riley reaffirmed a “buy” rating and set a $18.00 price objective on shares of TrueCar in a research report on Wednesday, January 24th. Zacks Investment Research downgraded shares of TrueCar from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 20th. Finally, ValuEngine downgraded shares of TrueCar from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.56.
In other TrueCar news, SVP John Pierantoni sold 2,494 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the completion of the sale, the senior vice president now directly owns 57,513 shares of the company’s stock, valued at $649,321.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Neeraj Gunsagar sold 10,443 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.28, for a total transaction of $117,797.04. Following the completion of the sale, the executive vice president now directly owns 254,144 shares of the company’s stock, valued at $2,866,744.32. The disclosure for this sale can be found here. Insiders sold 15,670 shares of company stock valued at $177,654 over the last three months. Insiders own 15.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in shares of TrueCar by 3.6% in the second quarter. California State Teachers Retirement System now owns 110,902 shares of the technology company’s stock worth $2,210,000 after buying an additional 3,839 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of TrueCar by 11.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 45,407 shares of the technology company’s stock worth $509,000 after buying an additional 4,700 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of TrueCar in the third quarter worth $104,000. The Manufacturers Life Insurance Company lifted its stake in shares of TrueCar by 15.6% in the second quarter. The Manufacturers Life Insurance Company now owns 49,418 shares of the technology company’s stock worth $984,000 after buying an additional 6,653 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of TrueCar by 18.3% in the third quarter. American International Group Inc. now owns 45,936 shares of the technology company’s stock worth $725,000 after buying an additional 7,101 shares during the last quarter. Institutional investors and hedge funds own 89.04% of the company’s stock.
TrueCar (NASDAQ:TRUE) opened at $10.79 on Tuesday. TrueCar has a 1 year low of $10.16 and a 1 year high of $21.75. The company has a market cap of $1,092.07, a P/E ratio of -30.83 and a beta of 2.52. The company has a current ratio of 6.41, a quick ratio of 6.41 and a debt-to-equity ratio of 0.09.
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TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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