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Dallas, Texas-based Copart, Inc. (CPRT) provides online auctions and salvage vehicle remarketing services. Valued at $49.13 billion by market cap, the company offers salvaged vehicles primarily sold to licensed dismantlers, rebuilders, and used vehicle dealers. The global online vehicle auction and remarketing services provider is expected to announce its fiscal fourth-quarter earnings for 2024 on Thursday, Sep. 12.
Ahead of the event, analysts expect CPRT to report a profit of $0.37 per share on a diluted basis, up 8.8% from $0.34 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on another occasion.
For the full year, analysts expect CPRT to report EPS of $1.43, up 13.5% from $1.26 in fiscal 2023.
CPRT stock has underperformed the S&P 500’s ($SPX) 19.2% gains over the past 52 weeks, with shares up 16.5% during this period. However, it outperformed the S&P 500 Industrial Sector SPDR’s (XLI) 15.2% gains over the same time frame.
On May 16, CPRT reported its Q3 results. Its EPS of $0.39 beat consensus estimates of $0.38. CPRT’s revenue was $1.13 billion, beating analyst estimates of $1.11 billion. Sales were up 10% year over year. The company’s U.S. insurance volumes rose 6.8% year-over-year during the quarter. CPRT’s non-insurance business grew 23%, while its dealer sales volume increased 18%. CPRT shares closed down more than 1% on the day the results were released and have been on a downtrend since then.
Analysts’ consensus opinion on CPRT stock is bullish, with a “Moderate Buy” rating overall. Out of seven analysts covering the stock, four advise a “Strong Buy” rating, and three give a “Hold.” The average analyst price target for CPRT is $55.83, indicating a potential upside of 9.4% from the current levels.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
