Wall Street brokerages expect CarMax, Inc (NYSE:KMX) to post $4.51 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for CarMax’s earnings, with the highest sales estimate coming in at $4.54 billion and the lowest estimate coming in at $4.47 billion. CarMax reported sales of $4.13 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.2%. The firm is expected to issue its next quarterly earnings report before the market opens on Wednesday, June 21st.
On average, analysts expect that CarMax will report full-year sales of $4.51 billion for the current fiscal year, with estimates ranging from $16.75 billion to $17.33 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $18.26 billion per share, with estimates ranging from $17.65 billion to $18.87 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow CarMax.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, April 6th. The company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.94 billion. CarMax had a return on equity of 21.02% and a net margin of 3.96%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS.
KMX has been the subject of a number of research analyst reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $72.00 price target on shares of CarMax in a research report on Monday, March 13th. Morgan Stanley downgraded CarMax from an “equal weight” rating to an “underweight” rating and set a $48.00 price target for the company. in a research report on Wednesday, February 1st. Wedbush reaffirmed a “neutral” rating and set a $60.00 price target on shares of CarMax in a research report on Monday, March 27th. Royal Bank of Canada reaffirmed a “market perform” rating and set a $63.00 price target (down from $71.00) on shares of CarMax in a research report on Thursday, April 6th. Finally, Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, March 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $66.17.
In other CarMax news, Director Edgar H. Grubb sold 2,000 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $58.24, for a total value of $116,480.00. Following the completion of the sale, the director now directly owns 42,005 shares of the company’s stock, valued at $2,446,371.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KMX. Ruane Cunniff & Goldfarb Inc. increased its stake in CarMax by 66.6% in the fourth quarter. Ruane Cunniff & Goldfarb Inc. now owns 10,052,354 shares of the company’s stock worth $647,271,000 after buying an additional 4,019,237 shares in the last quarter. State Street Corp increased its stake in CarMax by 3.5% in the fourth quarter. State Street Corp now owns 7,987,810 shares of the company’s stock worth $514,329,000 after buying an additional 270,592 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in CarMax during the third quarter worth about $223,614,000. WS Management Lllp increased its stake in CarMax by 4.3% in the fourth quarter. WS Management Lllp now owns 1,859,150 shares of the company’s stock worth $119,711,000 after buying an additional 75,994 shares in the last quarter. Finally, Norges Bank purchased a new stake in CarMax during the fourth quarter worth about $82,869,000.
CarMax (NYSE:KMX) traded up 0.05% on Friday, hitting $60.31. The company’s stock had a trading volume of 1,511,031 shares. The stock has a market cap of $11.20 billion, a PE ratio of 18.50 and a beta of 1.34. CarMax has a 12 month low of $45.06 and a 12 month high of $69.11. The firm has a 50 day moving average of $58.59 and a 200-day moving average of $60.63.
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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