Yahoo Finance Carvana (CVNA) Suffers a Larger Drop Than the General Market: Key Insights
Carvana (CVNA) closed at $191.92 in the latest trading session, marking a -0.77% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.02%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.04%.
The the stock of company has risen by 19.66% in the past month, leading the Retail-Wholesale sector's gain of 3.68% and the S&P 500's gain of 3.77%.
Investors will be eagerly watching for the performance of Carvana in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2024. It is anticipated that the company will report an EPS of $0.24, marking a 4.35% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.41 billion, indicating a 22.83% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.62 per share and revenue of $13.17 billion. These totals would mark changes of -17.33% and +22.24%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Carvana. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20% higher. Right now, Carvana possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Carvana is at present trading with a Forward P/E ratio of 313.96. Its industry sports an average Forward P/E of 24.23, so one might conclude that Carvana is trading at a premium comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 46, placing it within the top 19% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVNA in the coming trading sessions, be sure to utilize Zacks.com.
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Carvana Co. (CVNA) : Free Stock Analysis Report
