Brokerages Anticipate CarMax Inc (KMX) Will Post Earnings of $0.94 Per Share
Equities analysts predict that CarMax Inc (NYSE:KMX) will post earnings per share of $0.94 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for CarMax’s earnings, with the lowest EPS estimate coming in at $0.91 and the highest estimate coming in at $0.96. CarMax reported earnings per share of $0.88 in the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Friday, September 22nd.
According to Zacks, analysts expect that CarMax will report full-year earnings of $3.72 per share for the current financial year, with EPS estimates ranging from $3.66 to $3.81. For the next fiscal year, analysts forecast that the business will post earnings of $4.00 per share, with EPS estimates ranging from $3.87 to $4.15. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow CarMax.
CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.15. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. CarMax’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS.
Several research firms recently weighed in on KMX. BidaskClub upgraded shares of CarMax from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, July 11th. Wedbush set a $73.00 price target on shares of CarMax and gave the stock a “buy” rating in a report on Tuesday, July 11th. Royal Bank Of Canada restated a “market perform” rating and set a $63.00 price target (down from $71.00) on shares of CarMax in a report on Tuesday, July 4th. Finally, Deutsche Bank AG cut their price target on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. CarMax currently has an average rating of “Buy” and a consensus price target of $69.00.
Shares of CarMax (KMX) traded up 0.17% during midday trading on Wednesday, hitting $64.85. 578,913 shares of the stock were exchanged. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 18.62 and a beta of 1.34. The firm’s 50 day moving average is $62.63 and its 200-day moving average is $62.79. CarMax has a 1-year low of $47.50 and a 1-year high of $69.11.
In other news, Director Thomas J. Folliard sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total value of $3,070,500.00. Following the sale, the director now owns 509,166 shares of the company’s stock, valued at $31,267,884.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edgar H. Grubb sold 2,000 shares of the business’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 transaction of $116,480.00. Following the completion of the sale, the director now directly owns 42,005 shares in the company, valued at approximately $2,446,371.20. The disclosure for this sale can be found here. In the last three months, insiders sold 97,497 shares of company stock worth $6,103,933. Insiders own 1.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock valued at $656,668,000 after buying an additional 10,752,554 shares during the period. William Blair Investment Management LLC acquired a new stake in CarMax during the first quarter valued at about $47,370,000. Marathon Asset Management LLP raised its stake in CarMax by 68.5% in the second quarter. Marathon Asset Management LLP now owns 754,913 shares of the company’s stock valued at $47,605,000 after buying an additional 306,901 shares during the period. Morgan Stanley raised its stake in CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock valued at $27,019,000 after buying an additional 278,328 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in CarMax by 42.2% in the first quarter. Russell Investments Group Ltd. now owns 869,717 shares of the company’s stock valued at $51,505,000 after buying an additional 258,213 shares during the period.
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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