CarMax Inc (KMX) Expected to Post Earnings of $0.94 Per Share
Equities analysts predict that CarMax Inc (NYSE:KMX) will report $0.94 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for CarMax’s earnings, with the highest EPS estimate coming in at $1.00 and the lowest estimate coming in at $0.91. CarMax posted earnings per share of $0.88 during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The company is expected to announce its next quarterly earnings report before the market opens on Friday, September 22nd.
According to Zacks, analysts expect that CarMax will report full-year earnings of $3.74 per share for the current year, with EPS estimates ranging from $3.68 to $3.81. For the next year, analysts anticipate that the firm will report earnings of $4.01 per share, with EPS estimates ranging from $3.87 to $4.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover CarMax.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS.
A number of research analysts recently issued reports on the stock. UBS AG lowered shares of CarMax from a “positive” rating to a “neutral” rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $74.00 target price (up from $72.00) on shares of CarMax in a research note on Thursday, June 22nd. Deutsche Bank AG lowered their target price on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. Royal Bank Of Canada reiterated a “market perform” rating and issued a $63.00 target price (down from $71.00) on shares of CarMax in a research note on Tuesday, July 4th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $70.00 target price (up from $66.00) on shares of CarMax in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $70.82.
CarMax (NYSE KMX) traded up 0.46% during trading on Thursday, reaching $69.41. 1,296,181 shares of the company’s stock were exchanged. The company has a market capitalization of $12.72 billion, a PE ratio of 19.93 and a beta of 1.32. The company’s 50-day moving average is $65.79 and its 200-day moving average is $62.57. CarMax has a 1-year low of $47.50 and a 1-year high of $69.77.
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In other news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of CarMax stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $66.87, for a total transaction of $573,945.21. Following the sale, the chief financial officer now directly owns 70,522 shares in the company, valued at approximately $4,715,806.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas J. Folliard sold 50,000 shares of CarMax stock in a transaction dated 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 sale, the director now owns 509,166 shares in the company, valued at $31,267,884.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,515 shares of company stock worth $12,085,019. 1.70% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CarMax by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock valued at $1,146,758,000 after acquiring an additional 380,038 shares in the last quarter. BlackRock Inc. boosted its position in shares of CarMax by 0.5% during the 2nd quarter. BlackRock Inc. now owns 11,142,473 shares of the company’s stock valued at $702,643,000 after acquiring an additional 53,840 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CarMax by 8.3% during the 2nd quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock valued at $578,702,000 after acquiring an additional 706,369 shares in the last quarter. Broad Run Investment Management LLC lifted its holdings in CarMax by 0.9% during the 2nd quarter. Broad Run Investment Management LLC now owns 3,377,241 shares of the company’s stock valued at $212,969,000 after purchasing an additional 29,846 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in CarMax by 751.0% during the 2nd quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock valued at $135,465,000 after purchasing an additional 1,895,763 shares during the last quarter.
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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