CoStar Group, Inc. (NASDAQ:CSGP) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.31-1.38 for the period, compared to the Thomson Reuters consensus estimate of $1.35. The company issued revenue guidance of $251-254 million, compared to the consensus revenue estimate of $250.30 million.
CoStar Group, Inc. (CSGP) traded down 0.83% during midday trading on Wednesday, hitting $278.41. The company had a trading volume of 253,053 shares. The firm’s 50 day moving average is $278.68 and its 200-day moving average is $264.80. CoStar Group, Inc. has a 52 week low of $179.21 and a 52 week high of $291.95. The firm has a market capitalization of $9.14 billion, a P/E ratio of 93.46 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.28. The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $243.44 million. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 earnings per share. On average, equities research analysts expect that CoStar Group, Inc. will post $4.43 EPS for the current fiscal year.
CSGP has been the topic of several research analyst reports. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $310.00 price target on shares of CoStar Group in a report on Wednesday, September 13th. BidaskClub lowered shares of CoStar Group from a strong-buy rating to a buy rating in a research report on Sunday, July 16th. Zacks Investment Research lowered shares of CoStar Group from a hold rating to a sell rating in a research report on Wednesday, October 4th. Needham & Company LLC upped their target price on shares of CoStar Group from $275.00 to $300.00 and gave the stock a buy rating in a research report on Friday, July 28th. Finally, Bank of America Corporation reiterated a buy rating and issued a $306.00 target price on shares of CoStar Group in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $312.57.
In related news, VP Matthew Linnington sold 1,767 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.98% of the stock is currently owned by insiders.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.