Q3 2017 EPS Estimates for CoStar Group, Inc. (NASDAQ:CSGP) Reduced by SunTrust Banks

CoStar Group, Inc. (NASDAQ:CSGP) – Equities research analysts at SunTrust Banks decreased their Q3 2017 EPS estimates for shares of CoStar Group in a research note issued on Thursday. SunTrust Banks analyst A. Jeffrey now forecasts that the technology company will post earnings per share of $0.96 for the quarter, down from their prior forecast of $1.00. SunTrust Banks currently has a “Buy” rating and a $310.00 price target on the stock. SunTrust Banks also issued estimates for CoStar Group’s Q4 2017 earnings at $1.26 EPS and FY2018 earnings at $5.77 EPS.

Several other analysts have also recently commented on CSGP. Zacks Investment Research cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Needham & Company LLC raised their price target on shares of CoStar Group from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Stephens restated an “overweight” rating and set a $275.00 price target (up from $260.00) on shares of CoStar Group in a report on Monday, June 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $303.67.

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CoStar Group (NASDAQ CSGP) opened at 274.21 on Monday. CoStar Group has a 12 month low of $179.21 and a 12 month high of $284.47. The company’s 50-day moving average is $266.82 and its 200 day moving average is $231.45. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 92.05 and a beta of 1.51.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.63 by $0.23. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The firm had revenue of $237.20 million during the quarter, compared to analyst estimates of $234.38 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. CoStar Group’s revenue for the quarter was up 14.6% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in CoStar Group during the first quarter worth about $124,000. Penserra Capital Management LLC boosted its stake in CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock worth $152,000 after buying an additional 64 shares during the period. Daiwa Securities Group Inc. boosted its stake in CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock worth $186,000 after buying an additional 750 shares during the period. LS Investment Advisors LLC boosted its stake in CoStar Group by 3.5% in the second quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $186,000 after buying an additional 24 shares during the period. Finally, Capstone Asset Management Co. acquired a new stake in CoStar Group during the second quarter worth about $211,000.

In other CoStar Group news, insider Andrew C. Florance sold 43,536 shares of CoStar Group stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $244.46, for a total value of $10,642,810.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 20,000 shares of CoStar Group stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $265.01, for a total transaction of $5,300,200.00. The disclosure for this sale can be found here. Insiders sold 113,012 shares of company stock valued at $28,041,130 over the last quarter. Corporate insiders own 2.98% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.