Q4 2018 Earnings Forecast for CarMax, Inc Issued By Oppenheimer (KMX)

CarMax, Inc (NYSE:KMX) – Stock analysts at Oppenheimer decreased their Q4 2018 earnings per share (EPS) estimates for shares of CarMax in a note issued to investors on Thursday. Oppenheimer analyst B. Nagel now forecasts that the company will post earnings per share of $0.82 for the quarter, down from their prior forecast of $0.84. Oppenheimer has a “Outperform” rating and a $88.00 price objective on the stock. Oppenheimer also issued estimates for CarMax’s Q1 2019 earnings at $1.30 EPS, Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $1.04 EPS and FY2020 earnings at $4.90 EPS.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The business had revenue of $4.11 billion for 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%. CarMax’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS.

A number of other brokerages also recently weighed in on KMX. CIBC reissued a “market perform” rating on shares of CarMax in a research note on Thursday, October 5th. UBS Group downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 5th. Berenberg Bank assumed coverage on shares of CarMax in a research note on Wednesday, October 4th. They set a “hold” rating and a $83.00 target price for the company. Credit Suisse Group lifted their target price on shares of CarMax from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, September 29th. Finally, Zacks Investment Research downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $78.33.

Shares of CarMax (NYSE:KMX) traded up $0.04 during midday trading on Friday, reaching $70.58. 1,202,842 shares of the company were exchanged, compared to its average volume of 2,484,577. CarMax has a fifty-two week low of $54.29 and a fifty-two week high of $77.64. The company has a market capitalization of $12,760.00, a P/E ratio of 18.92, a PEG ratio of 1.23 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.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. QS Investors LLC increased its stake in CarMax by 1.0% in the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock valued at $147,000 after purchasing an additional 22 shares in the last quarter. YorkBridge Wealth Partners LLC grew its holdings in shares of CarMax by 1.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock valued at $149,000 after buying an additional 29 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of CarMax by 2.3% during the second quarter. Thrivent Financial For Lutherans now owns 7,000 shares of the company’s stock valued at $441,000 after buying an additional 160 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of CarMax by 0.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 88,144 shares of the company’s stock valued at $5,558,000 after buying an additional 248 shares during the last quarter. Finally, AXA grew its holdings in shares of CarMax by 1.8% during the second quarter. AXA now owns 16,700 shares of the company’s stock valued at $1,053,000 after buying an additional 300 shares during the last quarter.

In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $75.16, for a total value of $601,280.00. Following the completion of the sale, the director now directly owns 463,572 shares of the company’s stock, valued at $34,842,071.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William R. Tiefel sold 13,000 shares of CarMax stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $75.30, for a total transaction of $978,900.00. Following the completion of the sale, the director now directly owns 151,659 shares of the company’s stock, valued at $11,419,922.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,037 shares of company stock valued at $5,140,835. Insiders own 1.70% of the company’s stock.

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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.

Earnings History and Estimates for CarMax (NYSE:KMX)

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