Brokerages Anticipate Chegg, Inc. (NYSE:CHGG) Will Post Earnings of $0.33 Per Share

Wall Street analysts expect that Chegg, Inc. (NYSE:CHGG – Get Rating) will announce earnings per share (EPS) of $0.33 for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Chegg’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.29. Chegg posted earnings per share of $0.43 during the same quarter last year, which indicates a negative year-over-year growth rate of 23.3%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Chegg will report full-year earnings of $1.06 per share for the current fiscal year, with EPS estimates ranging from $0.92 to $1.19. For the next financial year, analysts anticipate that the business will report earnings of $1.27 per share, with EPS estimates ranging from $1.10 to $1.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Chegg.

Chegg (NYSE:CHGG – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Chegg had a net margin of 8.90% and a return on equity of 8.71%. During the same quarter last year, the business posted $0.13 earnings per share.

A number of equities research analysts recently weighed in on CHGG shares. StockNews.com started coverage on shares of Chegg in a report on Thursday, March 31st. They set a “hold” rating for the company. William Blair lowered shares of Chegg from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 3rd. Northland Securities decreased their price objective on shares of Chegg from $45.00 to $27.00 in a report on Tuesday, May 3rd. Craig Hallum decreased their price objective on shares of Chegg from $35.00 to $18.00 in a report on Tuesday, May 3rd. Finally, Zacks Investment Research raised shares of Chegg from a “sell” rating to a “hold” rating in a report on Friday, February 11th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Chegg currently has an average rating of “Hold” and a consensus target price of $42.91.

A number of large investors have recently modified their holdings of the stock. Scotia Capital Inc. lifted its position in Chegg by 7.9% in the 3rd quarter. Scotia Capital Inc. now owns 4,771 shares of the technology company’s stock valued at $325,000 after purchasing an additional 351 shares during the last quarter. Xponance Inc. lifted its position in Chegg by 3.1% in the 4th quarter. Xponance Inc. now owns 12,852 shares of the technology company’s stock valued at $395,000 after purchasing an additional 383 shares during the last quarter. Arizona State Retirement System lifted its position in Chegg by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 38,662 shares of the technology company’s stock valued at $2,630,000 after purchasing an additional 416 shares during the last quarter. Davy Global Fund Management Ltd lifted its position in Chegg by 4.7% in the 4th quarter. Davy Global Fund Management Ltd now owns 9,717 shares of the technology company’s stock valued at $298,000 after purchasing an additional 440 shares during the last quarter. Finally, Maryland Capital Management lifted its position in Chegg by 7.5% in the 3rd quarter. Maryland Capital Management now owns 7,040 shares of the technology company’s stock valued at $479,000 after purchasing an additional 492 shares during the last quarter.

CHGG traded down $0.44 during trading hours on Tuesday, reaching $17.98. 2,072,168 shares of the stock traded hands, compared to its average volume of 4,074,098. The firm’s fifty day simple moving average is $28.18 and its two-hundred day simple moving average is $28.56. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 4.92 and a beta of 1.11. Chegg has a fifty-two week low of $15.66 and a fifty-two week high of $90.50. The company has a debt-to-equity ratio of 2.08, a current ratio of 8.02 and a quick ratio of 8.02.

Chegg Company Profile (Get Rating)

Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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