CarMax (NYSE:KMX) Releases Quarterly Earnings Results, Beats Estimates By $0.37 EPS

CarMax (NYSE:KMX) announced its quarterly earnings data on Wednesday. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.94 by $0.37, RTT News reports. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same period last year, the firm posted $1.38 EPS.

CarMax Trading Down 0.7%

Shares of KMX opened at $51.83 on Wednesday. CarMax has a 52-week low of $30.26 and a 52-week high of $71.99. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93. The firm’s fifty day moving average is $42.26 and its two-hundred day moving average is $42.39. The stock has a market cap of $7.35 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KMX shares. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research note on Wednesday, April 8th. UBS Group started coverage on shares of CarMax in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $42.00 price target on the stock. Evercore set a $45.00 price target on shares of CarMax in a research note on Friday, April 10th. Finally, Argus raised shares of CarMax to a “hold” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $42.40.

Institutional Investors Weigh In On CarMax

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alberta Investment Management Corp purchased a new position in shares of CarMax during the 4th quarter worth $4,326,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of CarMax by 94.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 62,338 shares of the company’s stock worth $2,409,000 after acquiring an additional 30,218 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of CarMax by 36.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 176,750 shares of the company’s stock worth $6,830,000 after acquiring an additional 47,133 shares during the period. SPWM Advisors LLC purchased a new position in shares of CarMax during the 4th quarter worth $556,000. Finally, SRS Investment Management LLC raised its holdings in shares of CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after acquiring an additional 5,327,603 shares during the period.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.