CoStar Group (NASDAQ:CSGP – Get Free Report) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.15-0.16 for the period, compared to the consensus EPS estimate of $0.18. The company issued revenue guidance of $692-697 million, compared to the consensus revenue estimate of $703.53 million. CoStar Group also updated its FY24 guidance to $0.64-0.66 EPS.
CoStar Group Price Performance
NASDAQ:CSGP traded down $0.68 during mid-day trading on Tuesday, hitting $74.83. 2,838,126 shares of the stock traded hands, compared to its average volume of 2,266,161. The business’s 50-day moving average price is $77.69 and its 200 day moving average price is $84.16. The company has a market cap of $30.56 billion, a PE ratio of 103.89, a price-to-earnings-growth ratio of 11.08 and a beta of 0.81. CoStar Group has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13.
CoStar Group (NASDAQ:CSGP – Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $649.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. On average, analysts expect that CoStar Group will post 0.45 EPS for the current fiscal year.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on CoStar Group
Insider Buying and Selling at CoStar Group
In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the sale, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares in the company, valued at $5,938,942.29. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.
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.
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