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

Mister Car Wash (NYSE:MCWGet Rating) updated its FY 2022 earnings guidance on Friday. The company provided EPS guidance of $0.36-$0.39 for the period, compared to the consensus EPS estimate of $0.45. The company issued revenue guidance of $860.00 million-$880.00 million, compared to the consensus revenue estimate of $885.73 million.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MCW shares. The Goldman Sachs Group lowered Mister Car Wash from a neutral rating to a sell rating and decreased their price objective for the company from $12.00 to $10.00 in a research note on Monday, June 27th. Piper Sandler cut their price objective on shares of Mister Car Wash from $18.00 to $13.00 in a research report on Friday, May 13th. Morgan Stanley cut Mister Car Wash from an overweight rating to an equal weight rating and lowered their price target for the company from $16.00 to $11.00 in a report on Friday, August 12th. Finally, BMO Capital Markets cut their price objective on shares of Mister Car Wash from $23.00 to $18.00 in a report on Friday, May 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Mister Car Wash presently has a consensus rating of Hold and a consensus price target of $16.86.

Mister Car Wash Stock Performance

NYSE MCW opened at $10.14 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.56 and a quick ratio of 0.51. Mister Car Wash has a 1-year low of $9.73 and a 1-year high of $19.82. The firm has a market capitalization of $3.09 billion, a P/E ratio of 24.73, a P/E/G ratio of 2.65 and a beta of 0.72. The business’s 50-day simple moving average is $11.17 and its 200-day simple moving average is $12.87.

Insider Buying and Selling at Mister Car Wash

In related news, CEO John Lo-Minn Lai sold 34,215 shares of Mister Car Wash stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total transaction of $392,446.05. Following the transaction, the chief executive officer now owns 2,838,168 shares in the company, valued at approximately $32,553,786.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mister Car Wash news, CEO John Lo-Minn Lai sold 34,215 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total value of $392,446.05. Following the completion of the transaction, the chief executive officer now directly owns 2,838,168 shares of the company’s stock, valued at approximately $32,553,786.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jedidiah Marc Gold sold 5,378 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total value of $61,685.66. Following the transaction, the chief financial officer now owns 838,524 shares of the company’s stock, valued at $9,617,870.28. The disclosure for this sale can be found here. Insiders have sold a total of 44,513 shares of company stock valued at $510,564 over the last ninety days. Corporate insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Mister Car Wash during the second quarter valued at about $30,000. MetLife Investment Management LLC bought a new stake in shares of Mister Car Wash in the 1st quarter worth approximately $63,000. Quantbot Technologies LP acquired a new stake in Mister Car Wash during the first quarter valued at approximately $87,000. Captrust Financial Advisors boosted its stake in shares of Mister Car Wash by 19,305.7% during the 1st quarter. Captrust Financial Advisors now owns 6,792 shares of the company’s stock worth $100,000 after acquiring an additional 6,757 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Mister Car Wash by 65.9% during the first quarter. UBS Group AG now owns 6,800 shares of the company’s stock worth $101,000 after acquiring an additional 2,700 shares in the last quarter.

Mister Car Wash Company Profile

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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 June 16, 2022, it operated 407 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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Earnings History and Estimates for Mister Car Wash (NYSE:MCW)

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