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Carvana (CVNA) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Carvana (CVNA - Free Report) reached $191.57, with a +0.79% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
Shares of the company have appreciated by 42.33% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 7.41% and the S&P 500's gain of 5.94%.
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. The company's earnings per share (EPS) are projected to be $0.22, reflecting a 4.35% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $3.4 billion, reflecting a 22.54% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and a revenue of $13.15 billion, representing changes of -17.33% and +22.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Carvana. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 64.57% increase. At present, Carvana boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Carvana is presently being traded at a Forward P/E ratio of 308.55. Its industry sports an average Forward P/E of 22.53, so one might conclude that Carvana is trading at a premium comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Carvana (CVNA) Ascends While Market Falls: Some Facts to Note
In the latest market close, Carvana (CVNA - Free Report) reached $191.57, with a +0.79% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
Shares of the company have appreciated by 42.33% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 7.41% and the S&P 500's gain of 5.94%.
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. The company's earnings per share (EPS) are projected to be $0.22, reflecting a 4.35% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $3.4 billion, reflecting a 22.54% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and a revenue of $13.15 billion, representing changes of -17.33% and +22.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Carvana. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 64.57% increase. At present, Carvana boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Carvana is presently being traded at a Forward P/E ratio of 308.55. Its industry sports an average Forward P/E of 22.53, so one might conclude that Carvana is trading at a premium comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.