Brokers Set Expectations for CarMax, Inc’s Q4 2018 Earnings (KMX)
CarMax, Inc (NYSE:KMX) – William Blair raised their Q4 2018 EPS estimates for CarMax in a report issued on Monday. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.87 for the quarter, up from their prior forecast of $0.86. William Blair also issued estimates for CarMax’s Q1 2019 earnings at $1.21 EPS, Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.97 EPS and FY2020 earnings at $4.62 EPS.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, September 22nd. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.03. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share.
Several other equities analysts also recently commented on KMX. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 price target for the company in a research note on Wednesday, August 16th. Oppenheimer reaffirmed a “buy” rating on shares of CarMax in a research report on Friday, August 25th. Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective (up from $73.00) on shares of CarMax in a research report on Wednesday, September 13th. CIBC lifted their price objective on shares of CarMax from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 19th. Finally, Citigroup lifted their price objective on shares of CarMax to $84.00 and gave the stock a “buy” rating in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $77.00.
CarMax (KMX) traded down $0.38 during trading hours on Tuesday, hitting $67.09. 2,387,062 shares of the company’s stock traded hands, compared to its average volume of 2,212,235. The firm has a market capitalization of $12,190.58, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The company has a current ratio of 2.33, a quick ratio of 0.48 and a debt-to-equity ratio of 3.82. CarMax has a fifty-two week low of $54.29 and a fifty-two week high of $77.64.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Korea Investment CORP lifted its position in CarMax by 140.5% in the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after acquiring an additional 1,033 shares during the last quarter. Seven Eight Capital LP purchased a new stake in CarMax in the second quarter valued at $133,000. Tredje AP fonden purchased a new stake in CarMax in the third quarter valued at $144,000. QS Investors LLC lifted its position in CarMax by 1.0% in the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock valued at $147,000 after acquiring an additional 22 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its position in CarMax by 1.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock valued at $149,000 after acquiring an additional 29 shares during the last quarter.
In related news, SVP Jon G. Daniels sold 50,488 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $73.68, for a total value of $3,719,955.84. Following the completion of the sale, the senior vice president now directly owns 45,471 shares of the company’s stock, valued at $3,350,303.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Diane L. Cafritz sold 5,671 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $73.95, for a total transaction of $419,370.45. Following the completion of the sale, the senior vice president now directly owns 7,475 shares of the company’s stock, valued at $552,776.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 625,955 shares of company stock valued at $46,214,378. 1.70% of the stock is owned by corporate insiders.
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.
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 Analyst Ratings Network's FREE daily email newsletter.