Mister Car Wash (NYSE:MCW) Issues FY 2022 Earnings Guidance

Mister Car Wash (NYSE:MCW – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.44-$0.47 for the period, compared to the consensus earnings per share estimate of $0.46. The company issued revenue guidance of $875.00 million-$895.00 million, compared to the consensus revenue estimate of $889.95 million.Mister Car Wash also updated its FY22 guidance to $0.44-0.47 EPS.

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upgraded Mister Car Wash from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Friday, March 11th. William Blair initiated coverage on Mister Car Wash in a report on Wednesday, March 16th. They set an outperform rating for the company. Morgan Stanley upgraded Mister Car Wash from an equal weight rating to an overweight rating and set a $20.00 price objective on the stock in a research report on Tuesday, January 18th. Piper Sandler lowered their price target on Mister Car Wash from $18.00 to $13.00 in a research report on Friday. Finally, BMO Capital Markets reduced their price objective on Mister Car Wash from $23.00 to $18.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $21.50.

Shares of MCW stock opened at $12.12 on Friday. Mister Car Wash has a 52 week low of $11.51 and a 52 week high of $24.49. The firm has a 50 day moving average of $14.99 and a two-hundred day moving average of $16.52. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.45 and a quick ratio of 0.40.

Mister Car Wash (NYSE:MCW – Get Rating) last released its quarterly earnings data on Thursday, March 24th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $191.46 million for the quarter, compared to the consensus estimate of $189.10 million. Mister Car Wash had a negative net margin of 2.91% and a negative return on equity of 6.86%. As a group, analysts anticipate that Mister Car Wash will post 0.41 EPS for the current year.

In other Mister Car Wash news, insider Casey Penn Lindsay sold 3,600 shares of the stock in a transaction on Friday, March 18th. The shares were sold at an average price of $16.50, for a total transaction of $59,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 71.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Mister Car Wash by 2.7% during the first quarter. BlackRock Inc. now owns 2,576,375 shares of the company’s stock worth $38,103,000 after buying an additional 66,726 shares in the last quarter. State Street Corp grew its position in shares of Mister Car Wash by 150.6% during the 4th quarter. State Street Corp now owns 812,663 shares of the company’s stock worth $14,799,000 after buying an additional 488,438 shares during the period. Geode Capital Management LLC grew its position in shares of Mister Car Wash by 29.1% in the 4th quarter. Geode Capital Management LLC now owns 576,029 shares of the company’s stock valued at $10,489,000 after purchasing an additional 129,725 shares during the period. Goldman Sachs Group Inc. boosted its position in Mister Car Wash by 1,074.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 546,120 shares of the company’s stock worth $9,945,000 after acquiring an additional 499,613 shares during the last quarter. Finally, Morgan Stanley raised its stake in Mister Car Wash by 2,047.2% in the 3rd quarter. Morgan Stanley now owns 241,753 shares of the company’s stock valued at $4,411,000 after acquiring an additional 230,494 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Mister Car Wash Company Profile (Get Rating)

Mister Car Wash, Inc, together with its subsidiaries, provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. As of December 31, 2021, it operated 396 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

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