Wall Street analysts expect CarMax, Inc (NYSE:KMX) to report earnings of $0.99 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for CarMax’s earnings, with the highest EPS estimate coming in at $1.18 and the lowest estimate coming in at $0.87. CarMax reported earnings of $1.40 per share in the same quarter last year, which indicates a negative year over year growth rate of 29.3%. The business is expected to report its next quarterly earnings results on Tuesday, September 22nd.
On average, analysts expect that CarMax will report full year earnings of $3.22 per share for the current fiscal year, with EPS estimates ranging from $2.93 to $3.45. For the next fiscal year, analysts forecast that the company will report earnings of $5.32 per share, with EPS estimates ranging from $4.50 to $6.27. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow CarMax.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, June 19th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. CarMax had a net margin of 3.45% and a return on equity of 18.00%. CarMax’s quarterly revenue was down 48.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 earnings per share.
Several equities research analysts recently weighed in on the stock. Wedbush upped their target price on shares of CarMax from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Oppenheimer upped their target price on shares of CarMax from $87.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Cfra cut their target price on shares of CarMax from $115.00 to $75.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 2nd. Credit Suisse Group cut their target price on shares of CarMax from $100.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, April 3rd. Finally, TheStreet downgraded shares of CarMax from a “b-” rating to a “c+” rating in a research note on Friday, March 13th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. CarMax has an average rating of “Buy” and an average target price of $99.50.
KMX traded down $1.94 on Thursday, reaching $88.44. 38,477 shares of the company’s stock were exchanged, compared to its average volume of 1,825,241. The stock has a market cap of $14.61 billion, a PE ratio of 23.76, a P/E/G ratio of 2.39 and a beta of 1.71. CarMax has a twelve month low of $37.59 and a twelve month high of $103.18. The stock’s fifty day moving average price is $89.12 and its 200-day moving average price is $82.69. The company has a debt-to-equity ratio of 4.15, a current ratio of 2.85 and a quick ratio of 1.20.
In related news, SVP Charles Joseph Wilson sold 39,085 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $92.46, for a total transaction of $3,613,799.10. Following the completion of the sale, the senior vice president now owns 22,011 shares in the company, valued at approximately $2,035,137.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shira Goodman purchased 1,550 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were acquired at an average price of $63.91 per share, with a total value of $99,060.50. Following the purchase, the director now owns 26,439 shares in the company, valued at $1,689,716.49. The disclosure for this purchase can be found here. Insiders have sold a total of 77,785 shares of company stock valued at $7,182,608 in the last quarter. 1.99% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Ariel Investments LLC raised its position in CarMax by 14.0% during the 4th quarter. Ariel Investments LLC now owns 477,550 shares of the company’s stock worth $41,867,000 after buying an additional 58,588 shares during the last quarter. Capital Research Global Investors raised its position in CarMax by 23.5% during the 1st quarter. Capital Research Global Investors now owns 1,053,147 shares of the company’s stock worth $56,691,000 after buying an additional 200,720 shares during the last quarter. Eaton Vance Management increased its holdings in shares of CarMax by 4.2% in the 1st quarter. Eaton Vance Management now owns 7,194 shares of the company’s stock valued at $387,000 after purchasing an additional 287 shares in the last quarter. Aperio Group LLC increased its holdings in shares of CarMax by 3.7% in the 1st quarter. Aperio Group LLC now owns 86,292 shares of the company’s stock valued at $4,645,000 after purchasing an additional 3,071 shares in the last quarter. Finally, Commerce Bank increased its holdings in shares of CarMax by 34.5% in the 1st quarter. Commerce Bank now owns 6,757 shares of the company’s stock valued at $363,000 after purchasing an additional 1,732 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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