Oppenheimer Weighs in on CarMax, Inc’s FY2018 Earnings (KMX)

CarMax, Inc (NYSE:KMX) – Investment analysts at Oppenheimer lowered their FY2018 earnings estimates for CarMax in a research note issued on Thursday. Oppenheimer analyst B. Nagel now anticipates that the company will post earnings of $3.75 per share for the year, down from their previous estimate of $3.77. Oppenheimer has a “Outperform” rating and a $88.00 price target on the stock. Oppenheimer also issued estimates for CarMax’s FY2019 earnings at $4.45 EPS.

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

A number of other research analysts have also issued reports on the stock. Credit Suisse Group upgraded shares of CarMax to a “buy” rating and set a $83.00 target price on the stock in a research report on Monday, December 25th. Deutsche Bank lowered shares of CarMax from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a research report on Friday, November 17th. Northcoast Research upgraded shares of CarMax from a “neutral” rating to a “buy” rating in a research report on Thursday, December 14th. Zacks Investment Research lowered shares of CarMax from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Berenberg Bank initiated coverage on shares of CarMax in a research report on Wednesday, October 4th. They set a “hold” rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. CarMax presently has an average rating of “Buy” and a consensus target price of $78.33.

CarMax (NYSE:KMX) opened at $70.58 on Monday. CarMax has a 52-week low of $54.29 and a 52-week high of $77.64. The stock has a market cap of $12,764.25, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.48. The company has a current ratio of 2.70, a quick ratio of 0.51 and a debt-to-equity ratio of 3.83.

In related news, Director William R. Tiefel sold 13,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $75.30, for a total value of $978,900.00. Following the completion of the transaction, the director now owns 151,659 shares of the company’s stock, valued at approximately $11,419,922.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Darren C. Newberry sold 6,584 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $72.61, for a total transaction of $478,064.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,037 shares of company stock valued at $5,140,835. 1.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its stake in CarMax by 146.6% in the 4th quarter. State of Alaska Department of Revenue now owns 28,210 shares of the company’s stock valued at $1,808,000 after purchasing an additional 16,770 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in CarMax by 4.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 694,676 shares of the company’s stock valued at $44,550,000 after purchasing an additional 32,556 shares during the last quarter. Marathon Asset Management LLP lifted its stake in CarMax by 1.6% in the 4th quarter. Marathon Asset Management LLP now owns 753,447 shares of the company’s stock valued at $48,319,000 after purchasing an additional 12,139 shares during the last quarter. Creative Planning lifted its stake in CarMax by 34.4% in the 4th quarter. Creative Planning now owns 5,706 shares of the company’s stock valued at $366,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in CarMax by 19.4% in the 4th quarter. Bank of Montreal Can now owns 132,461 shares of the company’s stock valued at $8,496,000 after purchasing an additional 21,500 shares during the last quarter.

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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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