$0.09 Earnings Per Share Expected for TrueCar Inc (NASDAQ:TRUE) This Quarter

Analysts forecast that TrueCar Inc (NASDAQ:TRUE) will post earnings of $0.09 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for TrueCar’s earnings, with estimates ranging from $0.07 to $0.11. The business is scheduled to issue its next earnings report on Thursday, November 5th.

According to Zacks, analysts expect that TrueCar will report full-year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.09 to $0.17. For the next fiscal year, analysts forecast that the firm will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.20) to ($0.08). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for TrueCar.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.11. The company had revenue of $62.69 million for the quarter, compared to analyst estimates of $55.56 million. TrueCar had a negative return on equity of 5.73% and a negative net margin of 11.76%. The business’s revenue was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) earnings per share.

TRUE has been the subject of several research reports. Craig Hallum upgraded shares of TrueCar from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.00 to $10.00 in a research report on Friday, August 7th. ValuEngine lowered shares of TrueCar from a “buy” rating to a “hold” rating in a report on Friday, August 7th. B. Riley began coverage on TrueCar in a report on Friday, June 19th. They set a “buy” rating and a $5.00 price objective on the stock. DA Davidson lifted their target price on TrueCar from $3.00 to $5.25 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, August 13th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. TrueCar presently has an average rating of “Hold” and a consensus target price of $4.86.

Shares of TrueCar stock traded up $0.31 during trading on Wednesday, reaching $5.01. The company’s stock had a trading volume of 1,497,155 shares, compared to its average volume of 1,228,010. The stock has a 50-day moving average price of $4.66 and a two-hundred day moving average price of $3.11. The stock has a market capitalization of $541.12 million, a P/E ratio of -14.31 and a beta of 1.58. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.11. TrueCar has a one year low of $1.98 and a one year high of $6.47.

In related news, EVP Simon Edward Smith sold 10,000 shares of TrueCar stock in a transaction on Monday, August 31st. The stock was sold at an average price of $4.77, for a total transaction of $47,700.00. Following the completion of the sale, the executive vice president now directly owns 283,660 shares of the company’s stock, valued at $1,353,058.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 23,457 shares of company stock worth $105,088 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. ProShare Advisors LLC acquired a new position in TrueCar during the second quarter valued at approximately $37,000. Voloridge Investment Management LLC bought a new position in shares of TrueCar during the first quarter worth $35,000. Atom Investors LP acquired a new position in shares of TrueCar in the 2nd quarter valued at $51,000. Arizona State Retirement System bought a new stake in shares of TrueCar in the 1st quarter valued at $48,000. Finally, GSA Capital Partners LLP acquired a new stake in TrueCar during the 1st quarter worth $54,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

About TrueCar

TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

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