SPY414.92-5.67 -1.35%
DIA332.96-5.20 -1.54%
IXIC14,030.38-130.97 -0.92%

Cars.com's Q1 Results Reflect Continued Momentum, Barrington Says

05/10/2021 11:54

03:54 PM EDT, 05/10/2021 (MT Newswires) -- Cars.com's (CARS) above-consensus Q1 results reflect continued operational improvement led by a bigger dealer base and ongoing product adoption resulting in revenue growth, Barrington Research said Monday in a research note.

Cars.com on Thursday said it swung to Q1 GAAP net income of $0.08 per diluted share from a per-share loss of $11.76 a year earlier. Analysts surveyed by Capital IQ were looking for a profit of $0.01 per share.

Revenue totaled $153.3 million in the quarter ended March 31, compared with $148.1 million last year. The Street was looking for $149.2 million.

For Q2, the company expects revenue to range from $152 million to $154 million and adjusted earnings before interest, taxes, depreciation, and amortization margins of 28% to 30%.

Barrington raised its adjusted EBITDA estimate on the company to $187 million from $172 million for 2021 and to $201 million from $192 million for 2022.

The investment firm also lifted its price target on the company to $25 from $16 while maintaining its outperform rating.

Price: 13.50, Change: -0.49, Percent Change: -3.50