$0.94 EPS Expected for CarMax Inc (NYSE:KMX) This Quarter
Brokerages predict that CarMax Inc (NYSE:KMX) will post $0.94 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for CarMax’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.91. CarMax posted earnings of $0.88 per share during the same quarter last year, which would indicate 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.
On average, 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 year, analysts forecast that the company will post earnings of $4.00 per share, with EPS estimates ranging from $3.87 to $4.15. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CarMax.
CarMax (NYSE:KMX) last issued 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. The company had revenue of $4.54 billion during 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%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS.
KMX has been the subject of a number of analyst reports. Deutsche Bank AG cut their price objective on shares of CarMax from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. set a $72.00 price objective on shares of CarMax and gave the company a “buy” rating in a research report on Friday, April 21st. UBS AG lowered shares of CarMax from a “positive” rating to a “neutral” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $74.00 price objective (up from $72.00) on shares of CarMax in a research report on Thursday, June 22nd. Finally, Credit Suisse Group set a $75.00 price objective on shares of CarMax and gave the company a “buy” rating in a research report on Monday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned 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.
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Shares of CarMax (NYSE:KMX) traded down 1.46% during trading on Tuesday, hitting $64.87. 1,019,596 shares of the stock traded hands. CarMax has a 1-year low of $47.50 and a 1-year high of $69.11. The company has a market cap of $11.89 billion, a P/E ratio of 18.63 and a beta of 1.34. The stock has a 50-day moving average of $64.07 and a 200 day moving average of $62.87.
In other CarMax news, Director Thomas J. Folliard sold 50,000 shares of CarMax stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mohammad Shamim sold 13,938 shares of CarMax stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $66.08, for a total transaction of $921,023.04. Following the transaction, the senior vice president now directly owns 9,218 shares in the company, valued at $609,125.44. The disclosure for this sale can be found here. Insiders have sold 188,515 shares of company stock worth $12,085,019 over the last three months. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of KMX. Korea Investment CORP increased its position in CarMax by 140.5% in the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after buying an additional 1,033 shares during the period. State of Alaska Department of Revenue acquired a new position in CarMax during the second quarter valued at approximately $112,000. First Bank & Trust increased its position in 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 during the period. Bronfman E.L. Rothschild L.P. increased its position in CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock valued at $124,000 after buying an additional 49 shares during the period. Finally, Global X Management Co. LLC increased its position in CarMax by 7.3% in the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock valued at $148,000 after buying an additional 169 shares during the period.
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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