Northcoast Research Comments on CarMax Inc’s FY2018 Earnings (KMX)
CarMax Inc (NYSE:KMX) – Equities researchers at Northcoast Research upped their FY2018 earnings per share (EPS) estimates for CarMax in a research note issued to investors on Monday. Northcoast Research analyst J. Healy now anticipates that the company will post earnings of $3.82 per share for the year, up from their previous forecast of $3.73. Northcoast Research also issued estimates for CarMax’s FY2019 earnings at $3.96 EPS.
CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share.
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CarMax (KMX) traded down $0.33 during midday trading on Tuesday, hitting $72.35. The company had a trading volume of 1,337,500 shares, compared to its average volume of 2,205,261. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.48 and a current ratio of 2.33. CarMax has a 52-week low of $54.17 and a 52-week high of $77.64. The firm has a market cap of $13,251.74, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 1.23 and a beta of 1.52.
A number of hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its stake in CarMax by 3.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock valued at $40,552,000 after acquiring an additional 24,390 shares during the last quarter. Calamos Advisors LLC boosted its stake in CarMax by 20.3% during the 2nd quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock valued at $21,544,000 after acquiring an additional 57,657 shares during the last quarter. Principal Financial Group Inc. boosted its stake in 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 during the last quarter. Victory Capital Management Inc. boosted its stake in CarMax by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock valued at $1,364,000 after acquiring an additional 3,002 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in CarMax by 24.2% during the 2nd quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock valued at $3,957,000 after acquiring an additional 12,234 shares during the last quarter.
In related 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 transaction of $1,756,970.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO William C. Jr. Wood sold 201,701 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $73.56, for a total transaction of $14,837,125.56. Following the sale, the chief operating officer now directly owns 146,717 shares in the company, valued at approximately $10,792,502.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 609,955 shares of company stock worth $45,098,618. 1.90% of the stock is owned by insiders.
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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