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Carvana (CVNA) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Carvana (CVNA - Free Report) standing at $191.31, reflecting a -0.32% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Shares of the company witnessed a gain of 12.4% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 3.32% and the S&P 500's gain of 3.76%.
The upcoming earnings release of Carvana will be of great interest to investors. The company's earnings report is expected on October 30, 2024. The company is forecasted to report an EPS of $0.24, showcasing a 4.35% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $3.41 billion, up 22.83% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and a revenue of $13.17 billion, representing changes of -17.33% and +22.24%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.46% increase. At present, Carvana boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Carvana is at present trading with a Forward P/E ratio of 311.56. This signifies a premium in comparison to the average Forward P/E of 24.12 for its industry.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Carvana (CVNA) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Carvana (CVNA - Free Report) standing at $191.31, reflecting a -0.32% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Shares of the company witnessed a gain of 12.4% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 3.32% and the S&P 500's gain of 3.76%.
The upcoming earnings release of Carvana will be of great interest to investors. The company's earnings report is expected on October 30, 2024. The company is forecasted to report an EPS of $0.24, showcasing a 4.35% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $3.41 billion, up 22.83% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and a revenue of $13.17 billion, representing changes of -17.33% and +22.24%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.46% increase. At present, Carvana boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Carvana is at present trading with a Forward P/E ratio of 311.56. This signifies a premium in comparison to the average Forward P/E of 24.12 for its industry.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.