What is B. Riley’s Estimate for RumbleOn FY2024 Earnings?

RumbleOn, Inc. (NASDAQ:RMBL) – Equities research analysts at B. Riley reduced their FY2024 earnings estimates for RumbleOn in a research note issued to investors on Tuesday, November 12th. B. Riley analyst E. Wold now expects that the company will post earnings of ($0.85) per share for the year, down from their prior forecast of ($0.61). B. Riley currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for RumbleOn’s current full-year earnings is ($0.55) per share. B. Riley also issued estimates for RumbleOn’s Q4 2024 earnings at ($0.22) EPS, Q1 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.03) EPS, FY2025 earnings at $0.14 EPS and FY2026 earnings at $0.48 EPS.

RumbleOn (NASDAQ:RMBL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The company had revenue of $295.00 million for the quarter, compared to analysts’ expectations of $302.76 million. RumbleOn had a negative return on equity of 118.07% and a negative net margin of 15.25%. During the same quarter in the prior year, the business posted ($0.71) EPS.

Separately, Wedbush reduced their price target on shares of RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th.

RumbleOn Stock Performance

Shares of NASDAQ:RMBL opened at $5.49 on Friday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.27 and a current ratio of 1.12. The business’s 50-day simple moving average is $4.91 and its 200 day simple moving average is $4.77. The company has a market cap of $193.92 million, a P/E ratio of -0.65 and a beta of 2.08. RumbleOn has a one year low of $3.13 and a one year high of $8.84.

Institutional Trading of RumbleOn

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of RumbleOn by 8.7% in the third quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock worth $2,119,000 after purchasing an additional 35,536 shares in the last quarter. Barclays PLC lifted its position in RumbleOn by 278.7% in the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after buying an additional 15,660 shares in the last quarter. State Street Corp boosted its stake in shares of RumbleOn by 1.7% during the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after buying an additional 3,061 shares during the period. Citigroup Inc. grew its holdings in shares of RumbleOn by 46,928.8% during the 3rd quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after acquiring an additional 1,697,885 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of RumbleOn by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after acquiring an additional 3,350 shares in the last quarter. Hedge funds and other institutional investors own 66.14% of the company’s stock.

About RumbleOn

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.