Brokerages Expect CarMax, Inc (KMX) Will Post Quarterly Sales of $4.28 Billion

Analysts predict that CarMax, Inc (NYSE:KMX) will post $4.28 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for CarMax’s earnings. The lowest sales estimate is $4.20 billion and the highest is $4.37 billion. CarMax posted sales of $4.05 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The business is expected to report its next earnings results on Thursday, April 5th.

On average, analysts expect that CarMax will report full-year sales of $4.28 billion for the current fiscal year, with estimates ranging from $17.23 billion to $17.41 billion. For the next year, analysts forecast that the business will report sales of $18.48 billion per share, with estimates ranging from $18.06 billion to $19.06 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CarMax.

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

A number of analysts recently commented on KMX shares. Citigroup raised their price target on CarMax to $84.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. Zacks Investment Research lowered CarMax from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Wedbush reaffirmed an “outperform” rating and issued a $81.00 price target on shares of CarMax in a research note on Wednesday, January 10th. Goldman Sachs Group lowered 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 research note on Monday, September 25th. Finally, Susquehanna Bancshares set a $68.00 price target on CarMax and gave the stock a “hold” rating in a research note on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $78.33.

In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $75.16, for a total transaction of $601,280.00. Following the completion of the transaction, the director now owns 463,572 shares of the company’s stock, valued at $34,842,071.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Darren C. Newberry sold 6,584 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $72.61, for a total value of $478,064.24. The disclosure for this sale can be found here. Insiders have sold 72,037 shares of company stock valued at $5,140,835 in the last three months. Insiders own 1.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. Patten & Patten Inc. TN increased its holdings in shares of CarMax by 4.2% during the fourth quarter. Patten & Patten Inc. TN now owns 42,103 shares of the company’s stock valued at $2,700,000 after acquiring an additional 1,698 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of CarMax by 146.6% during the fourth quarter. State of Alaska Department of Revenue now owns 28,210 shares of the company’s stock valued at $1,808,000 after acquiring an additional 16,770 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of CarMax by 4.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 694,676 shares of the company’s stock valued at $44,550,000 after acquiring an additional 32,556 shares in the last quarter. Marathon Asset Management LLP increased its holdings in shares of CarMax by 1.6% during the fourth quarter. Marathon Asset Management LLP now owns 753,447 shares of the company’s stock valued at $48,319,000 after acquiring an additional 12,139 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of CarMax by 34.4% during the fourth quarter. Creative Planning now owns 5,706 shares of the company’s stock valued at $366,000 after acquiring an additional 1,462 shares in the last quarter.

CarMax (NYSE:KMX) traded up $0.04 during trading hours on Monday, hitting $70.58. The stock had a trading volume of 1,202,800 shares, compared to its average volume of 2,484,577. The stock has a market capitalization of $12,764.25, a price-to-earnings ratio of 18.92, a PEG ratio of 1.24 and a beta of 1.48. CarMax has a 52-week low of $54.29 and a 52-week high of $77.64. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.51 and a current ratio of 2.70.

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About CarMax

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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