Zacks: Analysts Expect CarMax Inc (KMX) Will Post Earnings of $0.81 Per Share
Equities research analysts expect CarMax Inc (NYSE:KMX) to post earnings per share of $0.81 for the current quarter, according to Zacks. Five analysts have issued estimates for CarMax’s earnings, with the highest EPS estimate coming in at $0.85 and the lowest estimate coming in at $0.73. CarMax posted earnings of $0.72 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, December 19th.
According to Zacks, analysts expect that CarMax will report full year earnings of $3.83 per share for the current year, with EPS estimates ranging from $3.73 to $3.92. For the next year, analysts expect that the business will post earnings of $4.15 per share, with EPS estimates ranging from $3.92 to $4.38. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover CarMax.
CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, September 22nd. The company reported $0.98 EPS for the quarter, topping the 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 business 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 posted $0.88 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year.
KMX has been the topic of several research reports. Zacks Investment Research downgraded shares of CarMax from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Wedbush restated an “outperform” rating and set a $77.00 price objective (up previously from $73.00) on shares of CarMax in a report on Wednesday, September 13th. CIBC restated a “buy” rating on shares of CarMax in a report on Tuesday, July 4th. Royal Bank Of Canada restated a “market perform” rating and set a $63.00 price objective (down previously from $71.00) on shares of CarMax in a report on Tuesday, July 4th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating on shares of CarMax in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $77.93.
CarMax (NYSE KMX) opened at 75.14 on Friday. The company has a market cap of $13.70 billion, a PE ratio of 20.69 and a beta of 1.38. CarMax has a 12 month low of $47.50 and a 12 month high of $77.64. The stock’s 50 day moving average is $72.81 and its 200 day moving average is $64.91.
In other CarMax news, Director William R. Tiefel sold 23,000 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $75.09, for a total transaction of $600,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 607,023 shares of company stock worth $44,678,095. Company insiders own 1.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. boosted its position in CarMax by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock valued at $40,552,000 after buying an additional 24,390 shares in the last quarter. Calamos Advisors LLC boosted its position in CarMax by 20.3% in the second quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock valued at $21,544,000 after buying an additional 57,657 shares in the last quarter. Principal Financial Group Inc. boosted its position in CarMax by 8.3% in the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock valued at $578,702,000 after buying an additional 706,369 shares in the last quarter. Victory Capital Management Inc. boosted its position in CarMax by 16.1% in the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock valued at $1,364,000 after buying an additional 3,002 shares in the last quarter. Finally, Gilbert & Cook Inc. acquired a new position in CarMax in the second quarter valued at about $270,000.
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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