Wedbush Analysts Boost Earnings Estimates for CarMax, Inc (KMX)
CarMax, Inc (NYSE:KMX) – Equities research analysts at Wedbush upped their Q3 2019 earnings estimates for shares of CarMax in a report issued on Wednesday. Wedbush analyst S. Basham now forecasts that the company will post earnings of $1.07 per share for the quarter, up from their previous estimate of $1.03. Wedbush currently has a “Outperform” rating and a $81.00 target price on the stock.
CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $3.97 billion. CarMax had a net margin of 4.07% and a return on equity of 21.77%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS.
Shares of CarMax (NYSE KMX) traded up $0.70 during trading hours on Thursday, reaching $70.54. The company’s stock had a trading volume of 1,159,203 shares, compared to its average volume of 2,591,392. The company has a market cap of $12,760.00, a P/E ratio of 18.91, a PEG ratio of 1.25 and a beta of 1.48. The company has a debt-to-equity ratio of 3.83, a current ratio of 2.70 and a quick ratio of 0.51. CarMax has a 52-week low of $54.29 and a 52-week high of $77.64.
Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. lifted its holdings in CarMax by 6.1% during the 3rd quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock worth $20,645,000 after purchasing an additional 15,545 shares in the last quarter. Magnetar Financial LLC purchased a new stake in CarMax during the 3rd quarter worth about $1,445,000. Toronto Dominion Bank lifted its holdings in CarMax by 24.2% during the 2nd quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock worth $3,957,000 after purchasing an additional 12,234 shares in the last quarter. California Public Employees Retirement System lifted its holdings in CarMax by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 435,405 shares of the company’s stock worth $33,008,000 after purchasing an additional 8,205 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in CarMax by 6.4% during the 3rd quarter. Aperio Group LLC now owns 79,277 shares of the company’s stock worth $6,010,000 after purchasing an additional 4,767 shares in the last quarter.
In other news, EVP Eric M. Margolin sold 4,453 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $75.30, for a total transaction of $335,310.90. Following the completion of the transaction, the executive vice president now owns 22,051 shares in the company, valued at approximately $1,660,440.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 8,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $72.40, for a total value of $579,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,037 shares of company stock valued at $5,140,835 in the last quarter. 1.70% of the stock is owned by corporate insiders.
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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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