CarMax, Inc (KMX) to Post Q1 2019 Earnings of $1.39 Per Share, Wedbush Forecasts

CarMax, Inc (NYSE:KMX) – Equities research analysts at Wedbush dropped their Q1 2019 earnings per share (EPS) estimates for CarMax in a research note issued on Tuesday. Wedbush analyst S. Basham now expects that the company will earn $1.39 per share for the quarter, down from their previous estimate of $1.40. Wedbush currently has a “Outperform” rating and a $81.00 target price on the stock. Wedbush also issued estimates for CarMax’s Q2 2019 earnings at $1.25 EPS, Q4 2019 earnings at $1.17 EPS and FY2020 earnings at $5.36 EPS.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Susquehanna Bancshares set a $68.00 price target on shares of CarMax and gave the stock a “hold” rating in a report on Tuesday, December 26th. Deutsche Bank cut their price target on shares of CarMax from $84.00 to $76.00 and set a “hold” rating for the company in a report on Sunday, November 26th. UBS Group raised shares of CarMax from a “market perform” rating to an “outperform” rating in a report on Thursday, January 18th. Finally, Credit Suisse Group raised shares of CarMax to a “buy” rating and set a $83.00 price target for the company in a report on Monday, December 25th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $79.68.

Shares of CarMax (KMX) traded up $0.11 during mid-day trading on Wednesday, hitting $65.43. 770,869 shares of the company were exchanged, compared to its average volume of 2,281,740. The company has a current ratio of 2.70, a quick ratio of 0.51 and a debt-to-equity ratio of 3.83. The firm has a market capitalization of $11,810.00, a P/E ratio of 17.51, a P/E/G ratio of 1.14 and a beta of 1.53. CarMax has a 12-month low of $54.29 and a 12-month high of $77.64.

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

In other news, Director Thomas J. Folliard sold 8,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $64.04, for a total value of $512,320.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Eric M. Margolin sold 20,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $71.78, for a total transaction of $1,435,600.00. Following the completion of the transaction, the executive vice president now directly owns 41,051 shares in the company, valued at approximately $2,946,640.78. The disclosure for this sale can be found here. In the last three months, insiders sold 74,584 shares of company stock worth $5,226,064. Insiders own 1.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in KMX. QS Investors LLC boosted its holdings in shares of CarMax by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock valued at $147,000 after buying an additional 22 shares during the period. Thrivent Financial For Lutherans raised its position in shares of CarMax by 2.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 7,000 shares of the company’s stock worth $441,000 after buying an additional 160 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of CarMax by 1.8% during the 2nd quarter. Sterling Capital Management LLC now owns 19,500 shares of the company’s stock worth $1,230,000 after buying an additional 353 shares in the last quarter. BlueCrest Capital Management Ltd raised its position in shares of CarMax by 4.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 8,685 shares of the company’s stock worth $548,000 after buying an additional 357 shares in the last quarter. Finally, Flinton Capital Management LLC raised its position in shares of CarMax by 9.2% during the 2nd quarter. Flinton Capital Management LLC now owns 5,712 shares of the company’s stock worth $360,000 after buying an additional 480 shares in 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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