Zacks: Analysts Expect Chegg, Inc. (NYSE:CHGG) Will Post Earnings of $0.33 Per Share

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

According to Zacks, analysts expect that Chegg will report full year earnings of $1.06 per share for the current 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’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Chegg.

Chegg (NYSE:CHGG – Get Rating) last released its earnings results on Monday, May 2nd. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $0.13 earnings per share.

Several equities analysts recently weighed in on CHGG shares. Craig Hallum decreased their target price on shares of Chegg from $35.00 to $18.00 in a research note on Tuesday, May 3rd. Bank of America downgraded Chegg from a “buy” rating to a “neutral” rating in a report on Tuesday, May 3rd. StockNews.com began coverage on Chegg in a report on Thursday, March 31st. They set a “hold” rating for the company. Northland Securities cut their price target on Chegg from $45.00 to $27.00 in a report on Tuesday, May 3rd. Finally, Piper Sandler downgraded Chegg from an “overweight” rating to a “neutral” rating and cut their price target for the company from $44.00 to $21.00 in a report on Tuesday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.91.

Shares of NYSE:CHGG traded down $0.44 during midday trading on Tuesday, hitting $17.98. The stock had a trading volume of 2,072,168 shares, compared to its average volume of 4,074,098. Chegg has a 12 month low of $15.66 and a 12 month high of $90.50. The company has a quick ratio of 8.02, a current ratio of 8.02 and a debt-to-equity ratio of 2.08. The business’s 50-day simple moving average is $28.18 and its 200-day simple moving average is $28.56. The company has a market cap of $2.26 billion, a P/E ratio of 40.86, a PEG ratio of 4.92 and a beta of 1.11.

Several institutional investors and hedge funds have recently bought and sold shares of CHGG. Meeder Asset Management Inc. acquired a new position in Chegg in the first quarter valued at about $48,000. KRS Capital Management LLC acquired a new position in Chegg in the fourth quarter valued at about $45,000. Quadrant Capital Group LLC raised its stake in Chegg by 2,703.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,433 shares in the last quarter. Captrust Financial Advisors raised its stake in Chegg by 79.6% in the first quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after purchasing an additional 892 shares in the last quarter. Finally, CastleArk Alternatives LLC acquired a new position in Chegg in the third quarter valued at about $147,000.

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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