$4.29 Billion in Sales Expected for CarMax Inc (KMX) This Quarter
Equities analysts predict that CarMax Inc (NYSE:KMX) will post sales of $4.29 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CarMax’s earnings, with the lowest sales estimate coming in at $4.21 billion and the highest estimate coming in at $4.37 billion. CarMax posted sales of $4.00 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The company is scheduled to report its next quarterly earnings results before the market opens on Friday, September 22nd.
According to Zacks, analysts expect that CarMax will report full-year sales of $4.29 billion for the current financial year, with estimates ranging from $16.85 billion to $17.25 billion. For the next financial year, analysts expect that the business will post sales of $18.13 billion per share, with estimates ranging from $17.67 billion to $19.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover CarMax.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business earned $0.90 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis.
KMX has been the subject of several recent research reports. Zacks Investment Research cut CarMax from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Wedbush reissued a “neutral” rating and set a $60.00 price target on shares of CarMax in a research report on Monday, March 27th. Royal Bank Of Canada reduced their price target on CarMax from $71.00 to $63.00 and set a “sector perform” rating for the company in a research report on Friday, April 7th. CIBC reissued a “buy” rating on shares of CarMax in a research report on Thursday, April 6th. Finally, Oppenheimer Holdings, Inc. set a $72.00 price target on CarMax and gave the company a “buy” rating in a research report on Monday, June 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. CarMax currently has an average rating of “Buy” and a consensus target price of $69.00.
In other CarMax news, Director Thomas J. Folliard sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was 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 in the company, valued at $31,267,884.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric M. Margolin sold 18,659 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $64.06, for a total value of $1,195,295.54. Following the completion of the sale, the executive vice president now owns 47,163 shares in the company, valued at approximately $3,021,261.78. The disclosure for this sale can be found here. Insiders sold 130,497 shares of company stock worth $8,258,253 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in KMX. 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 valued at $123,000 after buying an additional 138 shares in the last quarter. First Manhattan Co. boosted its position in shares of CarMax by 5.5% in the first quarter. First Manhattan Co. now owns 145,543 shares of the company’s stock valued at $7,764,000 after buying an additional 7,577 shares in the last quarter. Howard Hughes Medical Institute boosted its position in shares of CarMax by 8.3% in the first quarter. Howard Hughes Medical Institute now owns 47,779 shares of the company’s stock valued at $2,829,000 after buying an additional 3,648 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of CarMax by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 255,508 shares of the company’s stock valued at $16,452,000 after buying an additional 14,602 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of CarMax by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 35,213 shares of the company’s stock valued at $2,085,000 after buying an additional 9,221 shares in the last quarter.
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CarMax (KMX) traded up 2.66% during midday trading on Friday, hitting $66.09. The stock had a trading volume of 2,720,285 shares. The firm has a market cap of $12.11 billion, a P/E ratio of 18.98 and a beta of 1.34. CarMax has a 52 week low of $47.50 and a 52 week high of $69.11. The stock has a 50-day moving average of $62.71 and a 200-day moving average of $62.82.
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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