Research Analysts Issue Forecasts for CarMax Inc’s FY2018 Earnings (KMX)
CarMax Inc (NYSE:KMX) – Oppenheimer Holdings increased their FY2018 EPS estimates for shares of CarMax in a report released on Thursday. Oppenheimer Holdings analyst B. Nagel now anticipates that the company will post earnings per share of $3.75 for the year, up from their previous forecast of $3.72. Oppenheimer Holdings has a “Market Perform” rating and a $80.00 price target on the stock.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis.
A number of other analysts have also recently weighed in on the stock. CIBC restated a “market perform” rating on shares of CarMax in a report on Thursday. UBS AG downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a research report on Thursday. Berenberg Bank started coverage on shares of CarMax in a research report on Wednesday. They issued a “hold” rating and a $83.00 price target for the company. Credit Suisse Group AG upped their price target on shares of CarMax from $75.00 to $83.00 and gave the company an “outperform” rating in a research report on Friday, September 29th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $75.00 price target (up previously from $66.00) on shares of CarMax in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $77.93.
CarMax (KMX) traded up 0.29% during midday trading on Friday, hitting $76.59. 428,486 shares of the stock were exchanged. CarMax has a 52 week low of $47.50 and a 52 week high of $77.64. The stock has a market cap of $14.03 billion, a price-to-earnings ratio of 22.00 and a beta of 1.38. The firm’s 50-day moving average is $69.26 and its 200 day moving average is $63.64.
In other CarMax news, Director William R. Tiefel sold 23,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $76.39, for a total value of $1,756,970.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Folliard sold 8,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $76.03, for a total transaction of $608,240.00. Following the completion of the sale, the director now owns 479,572 shares of the company’s stock, valued at approximately $36,461,859.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 631,832 shares of company stock valued at $45,817,705. Insiders own 1.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Korea Investment CORP lifted its position in CarMax by 140.5% in the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after buying an additional 1,033 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in CarMax in the 2nd quarter worth approximately $112,000. Seven Eight Capital LP purchased a new stake in CarMax in the 2nd quarter worth approximately $133,000. YorkBridge Wealth Partners LLC lifted its position in CarMax by 1.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock worth $149,000 after buying an additional 29 shares in the last quarter. Finally, QS Investors LLC lifted its position in CarMax by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after buying an additional 22 shares in 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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