CarMax, Inc (NYSE:KMX) – Investment analysts at Wedbush reduced their FY2018 earnings estimates for CarMax in a research report issued to clients and investors on Tuesday. Wedbush analyst S. Basham now expects that the company will post earnings per share of $3.92 for the year, down from their prior estimate of $3.97. Wedbush currently has a “Outperform” rating and a $81.00 price target on the stock. Wedbush also issued estimates for CarMax’s Q4 2018 earnings at $1.00 EPS, Q3 2019 earnings at $1.05 EPS and FY2019 earnings at $4.86 EPS.
CarMax (NYSE:KMX) last released its quarterly earnings data 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 return on equity of 21.77% and a net margin of 4.07%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis.
CarMax (NYSE:KMX) traded down $0.42 during trading on Thursday, hitting $64.98. The company had a trading volume of 935,265 shares, compared to its average volume of 2,250,246. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.51 and a current ratio of 2.70. CarMax has a 12-month low of $54.29 and a 12-month high of $77.64. The stock has a market capitalization of $11,812.98, a P/E ratio of 17.53, a PEG ratio of 1.15 and a beta of 1.53.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. Bronfman E.L. Rothschild L.P. increased its stake in CarMax by 57.9% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 6,564 shares of the company’s stock valued at $421,000 after purchasing an additional 2,407 shares in the last quarter. Mar Vista Investment Partners LLC bought a new stake in CarMax in the fourth quarter valued at $38,803,000. Fenimore Asset Management Inc. increased its stake in CarMax by 2.1% in the fourth quarter. Fenimore Asset Management Inc. now owns 895,867 shares of the company’s stock valued at $57,452,000 after purchasing an additional 18,115 shares in the last quarter. California Public Employees Retirement System increased its stake in CarMax by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 448,825 shares of the company’s stock valued at $28,783,000 after purchasing an additional 13,420 shares in the last quarter. Finally, M&T Bank Corp increased its stake in CarMax by 26.8% in the fourth quarter. M&T Bank Corp now owns 70,270 shares of the company’s stock valued at $4,506,000 after purchasing an additional 14,866 shares in the last quarter.
In related news, SVP Darren C. Newberry sold 6,584 shares of CarMax stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $72.61, for a total transaction of $478,064.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $70.64, for a total value of $565,120.00. Following the sale, the director now directly owns 415,572 shares in the company, valued at $29,356,006.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,584 shares of company stock worth $5,226,064. 1.70% of the stock is owned by company insiders.
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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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