CarMax Inc to Post FY2018 Earnings of $3.75 Per Share, Oppenheimer Holdings Forecasts (KMX)
CarMax Inc (NYSE:KMX) – Oppenheimer Holdings raised their FY2018 earnings per share (EPS) estimates for CarMax in a report issued on Thursday. Oppenheimer Holdings analyst B. Nagel now expects that the company will post earnings of $3.75 per share for the year, up from their previous estimate of $3.72. Oppenheimer Holdings currently has a “Market Perform” rating and a $80.00 price target on the stock.
CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period last year, the firm earned $0.88 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis.
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A number of other brokerages also recently issued reports on KMX. UBS AG downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday. CIBC reiterated a “market perform” rating on shares of CarMax in a research note on Thursday. Berenberg Bank began coverage on shares of CarMax in a research note on Wednesday. They issued a “hold” rating and a $83.00 price objective on the stock. Credit Suisse Group increased their price objective on shares of CarMax from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, September 29th. Finally, Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.93.
CarMax (NYSE KMX) opened at 76.81 on Friday. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 22.06 and a beta of 1.38. The company’s 50 day moving average is $69.62 and its 200-day moving average is $63.75. CarMax has a 52-week low of $47.50 and a 52-week high of $77.64.
Several hedge funds have recently modified their holdings of KMX. Korea Investment CORP grew its stake in shares of CarMax by 140.5% during the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after acquiring an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of CarMax during the second quarter worth about $112,000. Seven Eight Capital LP purchased a new stake in shares of CarMax during the second quarter worth about $133,000. QS Investors LLC grew its stake in shares of CarMax by 1.0% during the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after acquiring an additional 22 shares during the last quarter. Finally, Global X Management Co. LLC grew its stake in shares of CarMax by 7.3% during the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after acquiring an additional 169 shares during the last quarter.
In other CarMax news, Director William R. Tiefel sold 23,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $76.39, for a total value of $1,756,970.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edwin J. Hill sold 35,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total transaction of $2,270,800.00. Following the completion of the transaction, the executive vice president now owns 39,792 shares of the company’s stock, valued at $2,581,704.96. The disclosure for this sale can be found here. Insiders sold 644,520 shares of company stock valued at $46,786,223 over the last quarter. 1.70% of the stock is currently 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.
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