Zacks: Analysts Anticipate CarMax Inc (KMX) Will Announce Quarterly Sales of $4.02 Billion
Wall Street brokerages expect CarMax Inc (NYSE:KMX) to announce $4.02 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for CarMax’s earnings, with estimates ranging from $3.91 billion to $4.15 billion. CarMax posted sales of $3.70 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The company is expected to issue its next quarterly earnings report on Tuesday, December 19th.
According to Zacks, analysts expect that CarMax will report full-year sales of $4.02 billion for the current financial year, with estimates ranging from $16.96 billion to $17.47 billion. For the next year, analysts expect that the company will report sales of $18.37 billion per share, with estimates ranging from $17.93 billion to $19.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for CarMax.
CarMax (NYSE:KMX) last issued its earnings results on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year.
A number of brokerages have issued reports on KMX. Deutsche Bank AG cut their target price on CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “market perform” rating and issued a $63.00 target price (down from $71.00) on shares of CarMax in a research report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $74.00 target price (up from $72.00) on shares of CarMax in a research report on Thursday, June 22nd. UBS AG lowered CarMax from a “positive” rating to a “neutral” rating in a research report on Thursday, June 22nd. Finally, Berenberg Bank began coverage on CarMax in a research report on Wednesday. They issued a “hold” rating and a $83.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $77.93.
In related news, EVP Eric M. Margolin sold 26,838 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $64.15, for a total value of $1,721,657.70. Following the completion of the transaction, the executive vice president now owns 55,342 shares in the company, valued at approximately $3,550,189.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Nash sold 100,522 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $73.85, for a total value of $7,423,549.70. Following the completion of the transaction, the chief executive officer now owns 62,902 shares of the company’s stock, valued at approximately $4,645,312.70. The disclosure for this sale can be found here. Insiders have sold 658,670 shares of company stock valued at $47,539,363 in the last ninety days. Company insiders own 1.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in KMX. UBS Asset Management Americas Inc. boosted its position in shares of CarMax by 7.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 506,752 shares of the company’s stock valued at $30,010,000 after purchasing an additional 34,033 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of CarMax by 9.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 24,054 shares of the company’s stock valued at $1,424,000 after purchasing an additional 2,041 shares during the period. Pacer Advisors Inc. boosted its position in shares of CarMax by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,523 shares of the company’s stock valued at $209,000 after purchasing an additional 110 shares during the period. Victory Capital Management Inc. boosted its position in shares of CarMax by 32.9% in the 1st quarter. Victory Capital Management Inc. now owns 18,631 shares of the company’s stock valued at $1,103,000 after purchasing an additional 4,615 shares during the period. Finally, AXA boosted its position in shares of CarMax by 16.3% in the 1st quarter. AXA now owns 16,400 shares of the company’s stock valued at $972,000 after purchasing an additional 2,300 shares during the period.
Shares of CarMax (KMX) opened at 76.45 on Thursday. The firm’s 50-day moving average is $68.93 and its 200-day moving average is $63.55. The firm has a market cap of $14.01 billion, a PE ratio of 21.96 and a beta of 1.38. CarMax has a 12-month low of $47.50 and a 12-month high of $77.64.
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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