CoStar Group (NASDAQ:CSGP – Get Free Report) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.150-0.160 for the period, compared to the consensus earnings per share estimate of 0.180. The company issued revenue guidance of $692.0 million-$697.0 million, compared to the consensus revenue estimate of $704.1 million. CoStar Group also updated its FY 2024 guidance to 0.640-0.660 EPS.
CoStar Group Stock Performance
Shares of CSGP traded up $3.90 during mid-day trading on Wednesday, hitting $78.74. The stock had a trading volume of 5,773,517 shares, compared to its average volume of 2,296,082. The firm has a market cap of $32.15 billion, a P/E ratio of 108.67, a PEG ratio of 11.24 and a beta of 0.81. The business has a fifty day moving average price of $77.44 and a 200-day moving average price of $84.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. CoStar Group has a 52 week low of $67.35 and a 52 week high of $100.38.
CoStar Group (NASDAQ:CSGP – Get Free Report) last issued its earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The firm had revenue of $656.40 million for the quarter, compared to analyst estimates of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. On average, equities research analysts expect that CoStar Group will post 0.45 EPS for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on CoStar Group
Insiders Place Their Bets
In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $352,146.00. Following the completion of the transaction, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The disclosure for this sale can be found here. Corporate 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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