Brokerages expect CarMax, Inc. (NYSE:KMX) to post sales of $5.19 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for CarMax’s earnings. The highest sales estimate is $5.41 billion and the lowest is $5.02 billion. CarMax posted sales of $4.96 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The business is scheduled to issue its next quarterly earnings report on Thursday, April 1st.
According to Zacks, analysts expect that CarMax will report full-year sales of $18.89 billion for the current financial year, with estimates ranging from $18.58 billion to $19.20 billion. For the next financial year, analysts expect that the company will report sales of $21.97 billion, with estimates ranging from $21.33 billion to $22.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for CarMax.
CarMax (NYSE:KMX) last posted its earnings results on Monday, December 21st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.28. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.98 billion. CarMax had a net margin of 4.01% and a return on equity of 20.30%. The business’s revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS.
KMX has been the subject of a number of analyst reports. Wedbush upped their price objective on shares of CarMax from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 17th. Northcoast Research raised shares of CarMax from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Tuesday, January 19th. Morgan Stanley reduced their price target on shares of CarMax to $165.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 23rd. Oppenheimer assumed coverage on shares of CarMax in a research report on Wednesday, December 23rd. They set a “buy” rating and a $130.00 price target on the stock. Finally, Bank of America reduced their target price on shares of CarMax from $130.00 to $121.00 and set a “buy” rating on the stock in a report on Tuesday, November 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $109.88.
In other CarMax news, EVP Thomas W. Reedy, Jr. sold 14,647 shares of CarMax stock in a transaction dated Wednesday, December 30th. The stock was sold at an average price of $93.53, for a total value of $1,369,933.91. Following the completion of the sale, the executive vice president now owns 19,979 shares in the company, valued at approximately $1,868,635.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Nash sold 58,674 shares of CarMax stock in a transaction dated Tuesday, January 12th. The shares were sold at an average price of $106.23, for a total value of $6,232,939.02. Following the completion of the sale, the chief executive officer now owns 175,674 shares of the company’s stock, valued at approximately $18,661,849.02. The disclosure for this sale can be found here. Insiders sold a total of 415,922 shares of company stock valued at $47,543,566 in the last 90 days. 2.09% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Concord Wealth Partners purchased a new stake in shares of CarMax during the 4th quarter worth about $27,000. NEXT Financial Group Inc purchased a new stake in shares of CarMax during the 3rd quarter worth about $30,000. AXA S.A. purchased a new stake in shares of CarMax during the 3rd quarter worth about $33,000. First Horizon Advisors Inc. purchased a new stake in shares of CarMax during the 4th quarter worth about $38,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of CarMax by 398.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 459 shares of the company’s stock worth $42,000 after purchasing an additional 367 shares during the period. Institutional investors and hedge funds own 97.59% of the company’s stock.
NYSE:KMX traded down $1.44 during trading hours on Thursday, reaching $117.94. 29,861 shares of the company were exchanged, compared to its average volume of 1,422,061. CarMax has a twelve month low of $37.59 and a twelve month high of $128.58. The firm has a market cap of $19.17 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.16 and a beta of 1.76. The stock’s 50-day moving average is $116.14 and its 200-day moving average is $102.06. The company has a current ratio of 2.60, a quick ratio of 0.67 and a debt-to-equity ratio of 3.51.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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