Brokers Issue Forecasts for CarMax Inc.’s FY2017 Earnings (KMX)
CarMax Inc. (NYSE:KMX) – Stock analysts at Oppenheimer Holdings lifted their FY2017 EPS estimates for CarMax in a report released on Wednesday. Oppenheimer Holdings analyst B. Nagel now expects that the brokerage will post earnings per share of $3.31 for the year, up from their previous forecast of $3.30. Oppenheimer Holdings currently has a “Buy” rating on the stock. Oppenheimer Holdings also issued estimates for CarMax’s Q4 2017 earnings at $0.81 EPS.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. CarMax had a return on equity of 20.92% and a net margin of 3.95%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis.
Several other brokerages have also recently issued reports on KMX. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Thursday. Buckingham Research reaffirmed a “buy” rating and set a $60.00 price objective on shares of CarMax in a report on Tuesday, June 21st. Robert W. Baird lifted their price objective on CarMax from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, September 7th. Deutsche Bank AG lifted their price objective on CarMax from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Finally, Wedbush lifted their price objective on CarMax from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. CarMax currently has a consensus rating of “Hold” and a consensus price target of $62.01.
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Shares of CarMax (NYSE:KMX) traded down 0.70% during trading on Friday, hitting $52.41. The stock had a trading volume of 853,123 shares. The stock’s 50 day moving average is $56.53 and its 200-day moving average is $53.74. The company has a market cap of $10.01 billion, a PE ratio of 17.04 and a beta of 1.42. CarMax has a 12-month low of $41.25 and a 12-month high of $60.81.
In other CarMax news, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the business’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $55.45, for a total transaction of $3,204,732.75. Following the completion of the sale, the chief financial officer now owns 72,135 shares of the company’s stock, valued at $3,999,885.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey E. Garten sold 6,300 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $53.41, for a total value of $336,483.00. Following the sale, the director now directly owns 21,552 shares of the company’s stock, valued at approximately $1,151,092.32. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its position in shares of CarMax by 40.2% in the first quarter. Primecap Management Co. CA now owns 19,079,632 shares of the company’s stock worth $974,969,000 after buying an additional 5,466,105 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of CarMax by 0.5% in the second quarter. Vanguard Group Inc. now owns 17,018,910 shares of the company’s stock worth $834,437,000 after buying an additional 78,432 shares in the last quarter. Davis Selected Advisers boosted its position in shares of CarMax by 1.5% in the second quarter. Davis Selected Advisers now owns 11,277,585 shares of the company’s stock worth $552,940,000 after buying an additional 161,600 shares in the last quarter. Harris Associates L P boosted its position in shares of CarMax by 48.8% in the second quarter. Harris Associates L P now owns 8,828,352 shares of the company’s stock worth $432,854,000 after buying an additional 2,894,787 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of CarMax by 9.7% in the second quarter. Principal Financial Group Inc. now owns 7,974,758 shares of the company’s stock worth $391,002,000 after buying an additional 706,752 shares in the last quarter.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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