FY2018 EPS Estimates for CarMax Inc Boosted by Analyst (KMX)
CarMax Inc (NYSE:KMX) – Stock analysts at Oppenheimer Holdings increased their FY2018 earnings estimates for CarMax in a research note issued to investors on Friday. Oppenheimer Holdings analyst B. Nagel now forecasts that the company will post earnings of $3.72 per share for the year, up from their prior forecast of $3.60. Oppenheimer Holdings currently has a “Buy” rating and a $72.00 target price on the stock.
Several other brokerages have also recently weighed in on KMX. Zacks Investment Research cut CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, March 9th. ValuEngine cut CarMax from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $74.00 price target (up from $72.00) on shares of CarMax in a research report on Thursday. Deutsche Bank AG reiterated a “buy” rating and set a $73.00 price target (up from $71.00) on shares of CarMax in a research report on Thursday. Finally, Bank of America Corporation reiterated a “buy” rating and set a $82.00 price target (up from $80.00) on shares of CarMax in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $69.54.
Shares of CarMax (NYSE:KMX) opened at 61.71 on Monday. The firm has a market capitalization of $11.46 billion, a P/E ratio of 18.93 and a beta of 1.25. The stock has a 50 day moving average of $61.63 and a 200-day moving average of $62.75. CarMax has a 1-year low of $45.06 and a 1-year high of $69.11.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year.
In related news, Director Edgar H. Grubb sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $58.24, for a total value of $116,480.00. Following the transaction, the director now directly owns 42,005 shares in the company, valued at $2,446,371.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. First Bank & Trust boosted its position in shares of CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock worth $123,000 after buying an additional 138 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock worth $124,000 after buying an additional 49 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of CarMax by 7.3% in the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after buying an additional 169 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in shares of CarMax during the fourth quarter worth approximately $205,000. Finally, Pacer Advisors Inc. boosted its position in shares of CarMax by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,523 shares of the company’s stock worth $209,000 after buying an additional 110 shares during 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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