CoStar Group (NASDAQ:CSGP – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.21 to $0.23 for the period, compared to the consensus earnings per share estimate of $0.24. The company issued revenue guidance of $693 million to $703 million, compared to the consensus revenue estimate of $713.34 million. CoStar Group also updated its FY 2024 guidance to 0.670-0.690 EPS.
CoStar Group Stock Down 11.0 %
Shares of CSGP stock traded down $8.45 during trading hours on Wednesday, hitting $68.42. 2,551,304 shares of the company were exchanged, compared to its average volume of 2,253,753. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 132.72 and a beta of 0.81. The business’s 50-day simple moving average is $76.47 and its two-hundred day simple moving average is $79.24.
CoStar Group (NASDAQ:CSGP – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. Sell-side analysts predict that CoStar Group will post 0.49 EPS for the current fiscal year.
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CoStar Group Company Profile
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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