CoStar Group (CSGP) Scheduled to Post Earnings on Tuesday

CoStar Group (NASDAQ:CSGP) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect CoStar Group to post earnings of $0.06 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same quarter in the previous year, the business posted $0.35 EPS. CoStar Group’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts expect CoStar Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CoStar Group Stock Performance

NASDAQ CSGP opened at $87.53 on Tuesday. The company has a fifty day simple moving average of $88.97 and a 200 day simple moving average of $84.27. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. The company has a market cap of $35.75 billion, a P/E ratio of 95.14, a PEG ratio of 10.38 and a beta of 0.84.

Institutional Investors Weigh In On CoStar Group

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its stake in CoStar Group by 111.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,683 shares of the technology company’s stock valued at $1,045,000 after acquiring an additional 8,253 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in CoStar Group by 504.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,874 shares of the technology company’s stock valued at $125,000 after acquiring an additional 1,564 shares during the period. MetLife Investment Management LLC bought a new stake in CoStar Group in the 1st quarter valued at about $1,427,000. Panagora Asset Management Inc. raised its stake in CoStar Group by 10.6% in the 1st quarter. Panagora Asset Management Inc. now owns 12,007 shares of the technology company’s stock valued at $800,000 after acquiring an additional 1,152 shares during the period. Finally, Raymond James Trust N.A. raised its stake in CoStar Group by 32.3% in the 1st quarter. Raymond James Trust N.A. now owns 5,884 shares of the technology company’s stock valued at $392,000 after acquiring an additional 1,435 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup lifted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods lifted their price target on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. BTIG Research began coverage on shares of CoStar Group in a report on Friday, January 19th. They set a “neutral” rating on the stock. Needham & Company LLC cut their price objective on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price objective on shares of CoStar Group in a report on Friday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.