CarMax Inc (KMX) Expected to Earn Q4 2018 Earnings of $0.88 Per Share
CarMax Inc (NYSE:KMX) – Wedbush upped their Q4 2018 earnings per share (EPS) estimates for CarMax in a note issued to investors on Wednesday. Wedbush analyst S. Basham now expects that the company will post earnings of $0.88 per share for the quarter, up from their prior forecast of $0.85. Wedbush has a “Outperform” rating and a $77.00 price objective on the stock.
A number of other research firms have also weighed in on KMX. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of CarMax in a research note on Friday, September 1st. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. BidaskClub raised CarMax from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Deutsche Bank AG dropped their price objective on CarMax from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.82.
CarMax (NYSE KMX) traded down 1.68% during mid-day trading on Friday, hitting $68.29. The company’s stock had a trading volume of 1,740,103 shares. The company’s 50 day moving average is $65.95 and its 200-day moving average is $62.67. The stock has a market cap of $12.51 billion, a P/E ratio of 19.61 and a beta of 1.32. CarMax has a 52-week low of $47.50 and a 52-week high of $69.66.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, beating the 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 firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the firm posted $0.90 EPS. The company’s revenue was up 10.1% compared to the same quarter last year.
In other CarMax news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was 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 $4,715,806.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Folliard sold 50,000 shares of the company’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 in the company, valued at $31,267,884.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,515 shares of company stock valued at $12,085,019. 1.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Intl Fcstone Inc. purchased a new stake in CarMax during the second quarter valued at approximately $211,000. Toronto Dominion Bank raised its position in CarMax by 24.2% during the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock valued at $3,957,000 after purchasing an additional 12,234 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in CarMax during the second quarter valued at approximately $2,345,000. WINTON GROUP Ltd purchased a new stake in CarMax during the second quarter valued at approximately $2,083,000. Finally, Sterling Capital Management LLC raised its position in CarMax by 1.8% during the second quarter. Sterling Capital Management LLC now owns 19,500 shares of the company’s stock valued at $1,230,000 after purchasing an additional 353 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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