Zacks: Brokerages Expect CarLotz, Inc. (NASDAQ:LOTZ) Will Announce Earnings of -$0.21 Per Share

Brokerages forecast that CarLotz, Inc. (NASDAQ:LOTZ) will post earnings of ($0.21) per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CarLotz’s earnings, with estimates ranging from ($0.21) to ($0.20). The business is expected to report its next quarterly earnings report on Monday, November 8th.

According to Zacks, analysts expect that CarLotz will report full year earnings of ($0.66) per share for the current fiscal year, with EPS estimates ranging from ($0.68) to ($0.64). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.63) per share, with EPS estimates ranging from ($0.70) to ($0.56). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow CarLotz.

CarLotz (NASDAQ:LOTZ) last released its earnings results on Monday, August 9th. The company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. The firm had revenue of $50.77 million during the quarter, compared to the consensus estimate of $48.83 million.

LOTZ has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on CarLotz in a report on Monday, August 16th. They set a “hold” rating and a $7.00 target price on the stock. William Blair lowered CarLotz from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 10th. Finally, Zacks Investment Research raised CarLotz from a “sell” rating to a “hold” rating in a report on Tuesday, August 3rd.

Several hedge funds have recently modified their holdings of the company. UBS Group AG acquired a new stake in shares of CarLotz in the first quarter valued at about $29,000. Marathon Trading Investment Management LLC grew its stake in CarLotz by 7.0% during the second quarter. Marathon Trading Investment Management LLC now owns 83,700 shares of the company’s stock worth $457,000 after purchasing an additional 5,500 shares during the period. Wells Fargo & Company MN grew its stake in CarLotz by 23.6% during the second quarter. Wells Fargo & Company MN now owns 30,700 shares of the company’s stock worth $168,000 after purchasing an additional 5,860 shares during the period. Trexquant Investment LP grew its stake in CarLotz by 20.9% during the second quarter. Trexquant Investment LP now owns 43,586 shares of the company’s stock worth $238,000 after purchasing an additional 7,540 shares during the period. Finally, Penserra Capital Management LLC grew its stake in CarLotz by 90.2% during the second quarter. Penserra Capital Management LLC now owns 17,807 shares of the company’s stock worth $97,000 after purchasing an additional 8,445 shares during the period. 23.59% of the stock is owned by institutional investors.

Shares of LOTZ stock traded up $0.17 during trading on Monday, reaching $4.23. 123,288 shares of the company’s stock were exchanged, compared to its average volume of 4,218,582. The company has a quick ratio of 4.75, a current ratio of 5.58 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $480.82 million, a PE ratio of -1.80 and a beta of 0.16. CarLotz has a twelve month low of $3.62 and a twelve month high of $12.90. The firm’s fifty day moving average price is $4.21 and its 200-day moving average price is $5.63.

About CarLotz

CarLotz, Inc operates as a consignment-to-retail used vehicle marketplace that provides its corporate vehicle sourcing partners and retail sellers of used vehicles. The company serves corporate vehicle sourcing partners, which include fleet leasing companies, rental car companies, banks, captive finance companies, third-party remarketers, wholesalers, companies that manage their own fleets, and original equipment manufacturers; retail sellers of used vehicles to individuals; and retail customers.

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Earnings History and Estimates for CarLotz (NASDAQ:LOTZ)

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