Mister Car Wash (NYSE:MCW) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Mister Car Wash reported Q earnings of $0.13 EPS, beating consensus by $0.01, with revenue up 6.2% year-over-year and a net margin of 7.06%.
• Shares traded around $7.07 post-report, with a market cap of $2.32 billion and a P/E of 32.14 (50-day/200-day moving averages: $7.00/$6.04).
• Institutional investors boosted stakes (notably Bank of America, Manulife, AQR, Goldman), while analysts largely rate the stock a "Hold" with a consensus target of $7.10.

Mister Car Wash (NYSE:MCW - Get Free Report) released its earnings results on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01, Briefing.com reports. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.During the same quarter last year, the firm earned $0.11 EPS. The firm's quarterly revenue was up 6.2% on a year-over-year basis.

Mister Car Wash Stock Performance

NYSE:MCW traded down $0.01 on Wednesday, hitting $7.07. The company's stock had a trading volume of 1,306,236 shares, compared to its average volume of 2,556,093. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average of $7.00 and a two-hundred day moving average of $6.04. The firm has a market capitalization of $2.32 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. Mister Car Wash has a one year low of $4.61 and a one year high of $7.98.

Institutional Trading of Mister Car Wash

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in shares of Mister Car Wash by 303.1% during the third quarter. Bank of America Corp DE now owns 1,811,457 shares of the company's stock worth $9,655,000 after purchasing an additional 1,362,094 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Mister Car Wash by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,166,833 shares of the company's stock worth $37,063,000 after purchasing an additional 1,327,745 shares during the period. AQR Capital Management LLC increased its stake in shares of Mister Car Wash by 230.3% during the fourth quarter. AQR Capital Management LLC now owns 1,502,075 shares of the company's stock worth $8,352,000 after purchasing an additional 1,047,297 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Mister Car Wash by 91.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,955,986 shares of the company's stock worth $11,755,000 after purchasing an additional 934,611 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Mister Car Wash by 71.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,157,676 shares of the company's stock worth $11,997,000 after purchasing an additional 897,755 shares during the period.

Wall Street Analyst Weigh In

MCW has been the topic of several analyst reports. UBS Group upped their target price on Mister Car Wash from $6.25 to $7.00 and gave the stock a "neutral" rating in a report on Thursday, February 19th. Raymond James Financial lowered Mister Car Wash from a "moderate buy" rating to a "hold" rating in a report on Friday, February 20th. Wells Fargo & Company lowered Mister Car Wash from an "overweight" rating to an "equal weight" rating and set a $7.00 target price on the stock. in a report on Wednesday, February 18th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.00 price objective (down from $8.00) on shares of Mister Car Wash in a research note on Monday, February 23rd. Finally, Guggenheim lowered Mister Car Wash from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $7.10.

About Mister Car Wash

Mister Car Wash, traded on the NYSE under the ticker MCW, is a leading provider of vehicle cleaning services in the United States. The company specializes in a tiered range of wash offerings, including express exterior washes, full-service interior and exterior cleaning, and premium detailing services. In addition to one-time washes, Mister Car Wash markets unlimited monthly membership plans that grant customers access to recurring washes at participating locations.

Founded in 1969 and headquartered in Houston, Texas, Mister Car Wash has grown from a single facility to one of the largest car wash chains in the country.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.