Wedbush Comments on CarMax, Inc’s Q3 2019 Earnings (KMX)
CarMax, Inc (NYSE:KMX) – Wedbush boosted their Q3 2019 EPS estimates for shares of CarMax in a note issued to investors on Wednesday. Wedbush analyst S. Basham now expects that the company will post earnings of $1.07 per share for the quarter, up from their prior forecast of $1.03. Wedbush has a “Outperform” rating and a $81.00 price target on the stock.
CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 21st. The company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). CarMax had a return on equity of 21.77% and a net margin of 4.07%. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the company earned $0.72 EPS. CarMax’s revenue for the quarter was up 11.0% compared to the same quarter last year.
Other equities research analysts also recently issued research reports about the company. UBS Group upgraded CarMax from a “market perform” rating to an “outperform” rating in a report on Thursday. Wood & Company upgraded CarMax from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $88.00 in a report on Thursday. Oppenheimer upgraded CarMax from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $88.00 in a report on Thursday. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, September 26th. Finally, Buckingham Research upped their price target on CarMax from $66.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $78.33.
Shares of CarMax (NYSE KMX) traded up $0.04 during midday trading on Thursday, reaching $70.58. The company’s stock had a trading volume of 1,202,842 shares, compared to its average volume of 2,484,577. The company has a current ratio of 2.70, a quick ratio of 0.51 and a debt-to-equity ratio of 3.83. CarMax has a 12 month low of $54.29 and a 12 month high of $77.64. The stock has a market cap of $12,760.00, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.23 and a beta of 1.48.
In other news, Director Thomas J. Folliard sold 8,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $72.40, for a total value of $579,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Darren C. Newberry sold 6,584 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $72.61, for a total value of $478,064.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,037 shares of company stock worth $5,140,835. Company insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in CarMax by 751.0% during the 2nd quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock worth $135,465,000 after buying an additional 1,895,763 shares during the last quarter. UBS Oconnor LLC purchased a new position in CarMax during the 2nd quarter worth approximately $44,142,000. Balyasny Asset Management LLC grew its stake in CarMax by 543.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 638,700 shares of the company’s stock worth $40,276,000 after buying an additional 539,451 shares during the last quarter. Vanguard Group Inc. grew its stake in CarMax by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock worth $1,146,758,000 after buying an additional 380,038 shares during the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new position in CarMax during the 2nd quarter worth approximately $23,648,000.
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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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