CarMax, Inc (KMX) Forecasted to Post FY2019 Earnings of $4.62 Per Share

CarMax, Inc (NYSE:KMX) – Analysts at Oppenheimer boosted their FY2019 EPS estimates for shares of CarMax in a research report issued on Wednesday, October 17th. Oppenheimer analyst B. Nagel now expects that the company will post earnings of $4.62 per share for the year, up from their prior forecast of $4.60. Oppenheimer also issued estimates for CarMax’s Q4 2019 earnings at $1.06 EPS.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, September 26th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.22 by $0.02. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.65 billion. CarMax had a net margin of 4.12% and a return on equity of 22.26%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share.

Other equities analysts also recently issued reports about the stock. Morgan Stanley set a $89.00 price target on shares of CarMax and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of CarMax in a research note on Thursday, August 16th. Zacks Investment Research downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Robert W. Baird raised shares of CarMax from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $83.93.

Shares of NYSE:KMX opened at $69.14 on Thursday. The stock has a market cap of $13.18 billion, a PE ratio of 18.69, a PEG ratio of 1.21 and a beta of 1.59. The company has a quick ratio of 0.52, a current ratio of 2.35 and a debt-to-equity ratio of 3.78. CarMax has a 12 month low of $57.05 and a 12 month high of $81.67.

In other CarMax news, SVP Mohammad Shamim sold 34,142 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $74.16, for a total transaction of $2,531,970.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Darren C. Newberry sold 1,831 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $73.80, for a total transaction of $135,127.80. Following the transaction, the senior vice president now directly owns 2,481 shares of the company’s stock, valued at approximately $183,097.80. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in KMX. Millennium Management LLC increased its stake in shares of CarMax by 4,279.2% during the second quarter. Millennium Management LLC now owns 488,592 shares of the company’s stock valued at $35,604,000 after purchasing an additional 477,435 shares in the last quarter. Douglass Winthrop Advisors LLC purchased a new stake in shares of CarMax during the second quarter valued at approximately $29,704,000. Principal Financial Group Inc. grew its holdings in shares of CarMax by 4.3% during the first quarter. Principal Financial Group Inc. now owns 9,658,783 shares of the company’s stock valued at $598,264,000 after buying an additional 402,543 shares during the last quarter. Chilton Investment Co. LLC grew its holdings in shares of CarMax by 281.6% during the second quarter. Chilton Investment Co. LLC now owns 448,724 shares of the company’s stock valued at $32,699,000 after buying an additional 331,148 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of CarMax by 625.4% during the first quarter. Royal Bank of Canada now owns 348,926 shares of the company’s stock valued at $21,611,000 after buying an additional 300,823 shares during the last quarter.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Earnings History and Estimates for CarMax (NYSE:KMX)

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