FY2023 EPS Estimates for CarMax, Inc. Lowered by Wedbush (NYSE:KMX)

CarMax, Inc. (NYSE:KMX – Get Rating) – Equities research analysts at Wedbush cut their FY2023 EPS estimates for shares of CarMax in a research note issued to investors on Thursday, March 16th. Wedbush analyst S. Basham now forecasts that the company will earn $2.78 per share for the year, down from their prior estimate of $2.93. Wedbush currently has a “Neutral” rating and a $55.00 target price on the stock. The consensus estimate for CarMax’s current full-year earnings is $2.78 per share. Wedbush also issued estimates for CarMax’s Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.24 EPS and FY2026 earnings at $3.06 EPS.

Several other brokerages have also commented on KMX. StockNews.com assumed coverage on shares of CarMax in a research note on Thursday. They set a “sell” rating on the stock. Truist Financial initiated coverage on shares of CarMax in a research note on Thursday, February 23rd. They issued a “hold” rating and a $66.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, March 10th. Morgan Stanley reduced their price target on shares of CarMax from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, December 28th. Finally, Evercore ISI reduced their price objective on shares of CarMax from $63.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, December 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average price target of $62.50.

CarMax Stock Down 3.8 %

Shares of NYSE:KMX opened at $56.26 on Friday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.81 and a current ratio of 2.57. The company has a market cap of $8.89 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 7.85 and a beta of 1.43. CarMax has a 52 week low of $52.10 and a 52 week high of $106.24. The firm has a 50 day simple moving average of $68.87 and a 200 day simple moving average of $68.92.

CarMax (NYSE:KMX – Get Rating) last issued its quarterly earnings results on Thursday, December 22nd. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.34). CarMax had a return on equity of 10.69% and a net margin of 1.82%. The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $7.18 billion. During the same period in the prior year, the company posted $1.63 earnings per share. The company’s revenue was down 23.7% on a year-over-year basis.

Insider Buying and Selling at CarMax

In related news, President & CEO William D. Nash purchased 8,220 shares of the business’s stock in a transaction on Friday, December 30th. The shares were purchased at an average price of $60.98 per share, with a total value of $501,255.60. Following the completion of the purchase, the insider now owns 165,128 shares in the company, valued at approximately $10,069,505.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.65% of the company’s stock.

Institutional Trading of CarMax

A number of institutional investors have recently made changes to their positions in the business. Kinneret Advisory LLC lifted its position in shares of CarMax by 2.3% in the first quarter. Kinneret Advisory LLC now owns 5,192 shares of the company’s stock worth $501,000 after purchasing an additional 116 shares in the last quarter. BOKF NA increased its holdings in CarMax by 0.9% during the second quarter. BOKF NA now owns 13,233 shares of the company’s stock worth $1,198,000 after buying an additional 121 shares during the last quarter. Strengthening Families & Communities LLC increased its holdings in CarMax by 5.3% during the fourth quarter. Strengthening Families & Communities LLC now owns 2,614 shares of the company’s stock worth $160,000 after buying an additional 131 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in CarMax by 1.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,323 shares of the company’s stock worth $750,000 after buying an additional 163 shares during the last quarter. Finally, Copperleaf Capital LLC increased its holdings in shares of CarMax by 1.8% in the second quarter. Copperleaf Capital LLC now owns 9,474 shares of the company’s stock valued at $857,000 after purchasing an additional 171 shares during the last quarter.

About CarMax

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CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations.