RumbleON, Inc. (NASDAQ:RMBL) Expected to Post Quarterly Sales of $439.59 Million

Equities analysts expect RumbleON, Inc. (NASDAQ:RMBLGet Rating) to report sales of $439.59 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for RumbleON’s earnings, with estimates ranging from $430.08 million to $449.10 million. RumbleON reported sales of $104.26 million during the same quarter last year, which would suggest a positive year over year growth rate of 321.6%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that RumbleON will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.94 billion to $1.96 billion. For the next year, analysts anticipate that the business will post sales of $2.27 billion, with estimates ranging from $2.26 billion to $2.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover RumbleON.

RumbleON (NASDAQ:RMBLGet Rating) last announced its earnings results on Wednesday, March 16th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.28. RumbleON had a negative return on equity of 9.55% and a negative net margin of 1.04%. The business had revenue of $440.91 million during the quarter, compared to analysts’ expectations of $402.61 million. During the same quarter last year, the business posted ($2.43) earnings per share.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised RumbleON from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 20th. DA Davidson cut their price objective on RumbleON from $48.00 to $41.00 in a research note on Thursday, March 17th. Robert W. Baird cut their price objective on RumbleON from $52.00 to $45.00 in a research note on Thursday, March 17th. Finally, Wedbush cut their price objective on RumbleON from $55.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $49.00.

Institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its position in shares of RumbleON by 816.8% during the 3rd quarter. UBS Group AG now owns 871 shares of the company’s stock worth $34,000 after buying an additional 776 shares during the period. Advisor Group Holdings Inc. raised its position in RumbleON by 1,812.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 956 shares of the company’s stock valued at $37,000 after purchasing an additional 906 shares during the last quarter. Citigroup Inc. bought a new position in RumbleON in the 3rd quarter valued at $48,000. Victory Capital Management Inc. bought a new position in RumbleON in the 3rd quarter valued at $96,000. Finally, Morgan Stanley raised its position in RumbleON by 99.8% in the 1st quarter. Morgan Stanley now owns 2,398 shares of the company’s stock valued at $105,000 after purchasing an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 45.75% of the company’s stock.

NASDAQ:RMBL opened at $18.79 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. RumbleON has a 1-year low of $18.14 and a 1-year high of $48.45. The firm has a market capitalization of $300.28 million, a price-to-earnings ratio of -3.85 and a beta of 2.81. The stock has a fifty day simple moving average of $28.38 and a 200 day simple moving average of $34.63.

RumbleON Company Profile (Get Rating)

RumbleON, Inc operates an e-commerce platform that aggregates and distributes pre-owned vehicles to and from consumers and dealers in North America. It operates in three segments: Powersports, Automotive, and Vehicle Logistics and Transportation. The Powersports segment distributes motorcycles. The Automotive segment distributes cars and trucks.

Featured Stories

Get a free copy of the Zacks research report on RumbleON (RMBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for RumbleON (NASDAQ:RMBL)

Want More Great Investing Ideas?

Receive News & Ratings for RumbleON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RumbleON and related companies with MarketBeat.com's FREE daily email newsletter.