What is Wedbush’s Estimate for RumbleOn FY2024 Earnings?

RumbleOn, Inc. (NASDAQ:RMBL) – Analysts at Wedbush lowered their FY2024 EPS estimates for shares of RumbleOn in a report released on Wednesday, November 13th. Wedbush analyst S. Basham now expects that the company will earn ($0.89) per share for the year, down from their previous estimate of ($0.48). Wedbush currently has a “Outperform” rating and a $5.00 target price on the stock. The consensus estimate for RumbleOn’s current full-year earnings is ($0.55) per share. Wedbush also issued estimates for RumbleOn’s Q4 2024 earnings at ($0.26) EPS, FY2025 earnings at ($0.28) EPS and FY2026 earnings at $0.22 EPS.

Separately, B. Riley cut their price target on shares of RumbleOn from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday.

RumbleOn Stock Up 5.0 %

Shares of RMBL stock opened at $5.49 on Friday. The stock’s fifty day moving average price is $4.91 and its 200 day moving average price is $4.77. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.12 and a quick ratio of 0.27. RumbleOn has a 1-year low of $3.13 and a 1-year high of $8.84. The company has a market cap of $193.92 million, a price-to-earnings ratio of -0.65 and a beta of 2.08.

RumbleOn (NASDAQ:RMBL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). RumbleOn had a negative net margin of 15.25% and a negative return on equity of 118.07%. The company had revenue of $295.00 million for the quarter, compared to analysts’ expectations of $302.76 million. During the same period in the prior year, the firm posted ($0.71) earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RMBL. Empowered Funds LLC lifted its stake in RumbleOn by 8.1% in the first quarter. Empowered Funds LLC now owns 58,300 shares of the company’s stock worth $377,000 after acquiring an additional 4,375 shares during the last quarter. Rhumbline Advisers grew its stake in shares of RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after purchasing an additional 19,279 shares during the last quarter. Magnus Financial Group LLC increased its stake in shares of RumbleOn by 146.8% during the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after acquiring an additional 45,500 shares during the period. Virtu Financial LLC acquired a new position in RumbleOn during the first quarter worth $90,000. Finally, Dimensional Fund Advisors LP grew its position in RumbleOn by 35.9% during the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after buying an additional 7,704 shares during the period. 66.14% of the stock is currently owned by institutional investors and hedge funds.

About RumbleOn

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.