Brokerages Expect CarMax, Inc. (NYSE:KMX) Will Post Quarterly Sales of $6.04 Billion

Wall Street analysts expect that CarMax, Inc. (NYSE:KMX) will post sales of $6.04 billion for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for CarMax’s earnings, with estimates ranging from $5.80 billion to $6.27 billion. CarMax posted sales of $3.23 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 87%. The business is expected to announce its next earnings results before the market opens on Friday, June 25th.

According to Zacks, analysts expect that CarMax will report full year sales of $22.68 billion for the current financial year, with estimates ranging from $22.19 billion to $23.63 billion. For the next financial year, analysts forecast that the company will post sales of $24.50 billion, with estimates ranging from $23.49 billion to $26.06 billion. Zacks’ sales averages are an average based on a survey of research firms that follow CarMax.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, March 31st. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. CarMax had a return on equity of 19.42% and a net margin of 3.94%. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis.

Several analysts recently issued reports on KMX shares. Stephens boosted their price target on CarMax from $130.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Royal Bank of Canada raised their target price on shares of CarMax from $140.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, April 5th. Wedbush restated a “neutral” rating and set a $130.00 price objective (down previously from $155.00) on shares of CarMax in a research note on Tuesday, May 25th. Oppenheimer upped their target price on CarMax from $130.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, April 9th. Finally, Robert W. Baird raised their price target on CarMax from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, April 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $123.50.

KMX remained flat at $$115.00 on Friday. 911,445 shares of the company were exchanged, compared to its average volume of 1,214,481. The company’s fifty day moving average is $124.48. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.56 and a current ratio of 2.42. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.29 and a beta of 1.65. CarMax has a twelve month low of $84.70 and a twelve month high of $138.77.

In other CarMax news, Director Thomas J. Folliard sold 185,120 shares of the business’s stock in a transaction on Monday, April 12th. The shares were sold at an average price of $131.47, for a total transaction of $24,337,726.40. Following the sale, the director now owns 392,076 shares of the company’s stock, valued at $51,546,231.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.76% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in KMX. First Trust Advisors LP raised its holdings in CarMax by 0.3% in the 1st quarter. First Trust Advisors LP now owns 65,476 shares of the company’s stock valued at $4,570,000 after buying an additional 167 shares during the last quarter. Creative Planning raised its stake in shares of CarMax by 11.6% during the fourth quarter. Creative Planning now owns 13,338 shares of the company’s stock valued at $1,260,000 after acquiring an additional 1,383 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of CarMax by 3.4% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 3,305 shares of the company’s stock worth $312,000 after purchasing an additional 110 shares during the period. Hartford Investment Management Co. grew its stake in shares of CarMax by 9.9% in the fourth quarter. Hartford Investment Management Co. now owns 18,815 shares of the company’s stock worth $1,777,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Atlantic Union Bankshares Corp grew its stake in shares of CarMax by 17.5% in the fourth quarter. Atlantic Union Bankshares Corp now owns 3,828 shares of the company’s stock worth $362,000 after purchasing an additional 570 shares during the last quarter. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

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; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through whole auctions.

Read More: Stock Portfolio Tracker

Get a free copy of the Zacks research report on CarMax (KMX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CarMax (NYSE:KMX)

Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with MarketBeat.com's FREE daily email newsletter.