Carvana (CVNA) closed at $42.90 in the latest trading session, marking a -1.85% move from the prior day. This change lagged the S&P 500's daily loss of 1.64%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Prior to today's trading, shares of the company had gained 8.52% over the past month. This has outpaced the Retail-Wholesale sector's loss of 0.11% and the S&P 500's gain of 0.89% in that time.
Carvana will be looking to display strength as it nears its next earnings release. On that day, Carvana is projected to report earnings of -$0.85 per share, which would represent year-over-year growth of 68.16%. Meanwhile, our latest consensus estimate is calling for revenue of $2.77 billion, down 18.25% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.71 per share and revenue of $11.06 billion. These totals would mark changes of +57.16% and -18.71%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Carvana. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Carvana is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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