Wedbush Analysts Reduce Earnings Estimates for CarMax, Inc (KMX)

CarMax, Inc (NYSE:KMX) – Analysts at Wedbush decreased their Q1 2019 earnings per share (EPS) estimates for CarMax in a research report issued on Wednesday. Wedbush analyst S. Basham now forecasts that the company will earn $1.40 per share for the quarter, down from their previous estimate of $1.43. Wedbush has a “Outperform” rating and a $81.00 price target on the stock. Wedbush also issued estimates for CarMax’s Q2 2019 earnings at $1.26 EPS, Q4 2019 earnings at $1.24 EPS and FY2020 earnings at $5.49 EPS.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $3.97 billion. CarMax had a return on equity of 21.77% and a net margin of 4.07%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS.

KMX has been the topic of several other research reports. Citigroup raised their price target on CarMax to $84.00 and gave the stock a “buy” rating in a report on Monday, September 25th. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Goldman Sachs Group downgraded CarMax from a “buy” rating to a “neutral” rating and raised their price target for the stock from $74.00 to $79.00 in a report on Monday, September 25th. Susquehanna Bancshares set a $68.00 price target on CarMax and gave the stock a “hold” rating in a report on Tuesday, December 26th. Finally, CIBC reissued a “market perform” rating on shares of CarMax in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. CarMax has an average rating of “Buy” and an average price target of $78.33.

Shares of CarMax (KMX) traded up $0.04 during midday trading on Friday, hitting $70.58. The company had a trading volume of 1,202,842 shares, compared to its average volume of 2,484,577. The company has a market cap of $12,760.00, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.23 and a beta of 1.48. CarMax has a 1-year low of $54.29 and a 1-year high of $77.64. The company has a current ratio of 2.70, a quick ratio of 0.51 and a debt-to-equity ratio of 3.83.

Institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. raised its stake in shares of CarMax by 6.1% in the 3rd quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock worth $20,645,000 after buying an additional 15,545 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of CarMax in the 3rd quarter worth $1,445,000. Toronto Dominion Bank raised its stake in shares of CarMax by 24.2% in the 2nd quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock worth $3,957,000 after buying an additional 12,234 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of CarMax by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 435,405 shares of the company’s stock worth $33,008,000 after buying an additional 8,205 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of CarMax by 6.4% in the 3rd quarter. Aperio Group LLC now owns 79,277 shares of the company’s stock worth $6,010,000 after buying an additional 4,767 shares in the last quarter.

In other news, Director William R. Tiefel sold 13,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $75.30, for a total value of $978,900.00. Following the sale, the director now owns 151,659 shares of the company’s stock, valued at approximately $11,419,922.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was 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 in the company, valued at approximately $34,842,071.52. The disclosure for this sale can be found here. Insiders have sold a total of 72,037 shares of company stock worth $5,140,835 in the last ninety days. 1.70% of the stock is owned by company 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.

Earnings History and Estimates for CarMax (NYSE:KMX)

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