Zacks: Analysts Anticipate CarLotz, Inc. (NASDAQ:LOTZ) Will Announce Quarterly Sales of $59.39 Million

Wall Street analysts expect CarLotz, Inc. (NASDAQ:LOTZ) to report $59.39 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CarLotz’s earnings. The lowest sales estimate is $54.60 million and the highest is $67.11 million. The firm is expected to report its next quarterly earnings results on Monday, November 8th.

On average, analysts expect that CarLotz will report full-year sales of $263.51 million for the current fiscal year, with estimates ranging from $229.73 million to $287.00 million. For the next fiscal year, analysts forecast that the company will report sales of $620.93 million, with estimates ranging from $575.50 million to $683.76 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow CarLotz.

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

Several research firms have weighed in on LOTZ. Zacks Investment Research upgraded shares of CarLotz from a “sell” rating to a “hold” rating in a research note on Tuesday, August 3rd. William Blair downgraded shares of CarLotz from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 10th. Deutsche Bank Aktiengesellschaft initiated coverage on CarLotz in a report on Monday, August 16th. They set a “hold” rating and a $7.00 price objective on the stock. Finally, Barrington Research cut their price objective on CarLotz from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, May 26th.

A number of institutional investors have recently made changes to their positions in the business. UBS Group AG acquired a new position in shares of CarLotz in the first quarter valued at $29,000. Marathon Trading Investment Management LLC raised 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 acquiring an additional 5,500 shares in the last quarter. Wells Fargo & Company MN raised 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 acquiring an additional 5,860 shares in the last quarter. Trexquant Investment LP raised 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 acquiring an additional 7,540 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of CarLotz by 90.2% in the second quarter. Penserra Capital Management LLC now owns 17,807 shares of the company’s stock valued at $97,000 after buying an additional 8,445 shares in the last quarter. 23.59% of the stock is owned by hedge funds and other institutional investors.

NASDAQ LOTZ opened at $3.89 on Wednesday. The company’s fifty day simple moving average is $4.24 and its 200-day simple moving average is $5.71. CarLotz has a 52 week low of $3.62 and a 52 week high of $12.90. The company has a current ratio of 5.58, a quick ratio of 4.75 and a debt-to-equity ratio of 0.03. The stock has a market cap of $442.18 million, a P/E ratio of -1.71 and a beta of 0.16.

CarLotz Company Profile

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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