Brokerages expect CarMax, Inc. (NYSE:KMX) to report sales of $6.01 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for CarMax’s earnings. The lowest sales estimate is $5.80 billion and the highest is $6.27 billion. CarMax posted sales of $3.23 billion during the same quarter last year, which would indicate a positive year over year growth rate of 86.1%. The business is scheduled to issue its next earnings report on Friday, June 18th.
According to Zacks, analysts expect that CarMax will report full-year sales of $22.63 billion for the current financial year, with estimates ranging from $22.19 billion to $23.46 billion. For the next year, analysts anticipate that the firm will report sales of $24.39 billion, with estimates ranging from $23.49 billion to $25.49 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for CarMax.
CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, March 31st. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.17 billion. CarMax had a net margin of 4.01% and a return on equity of 20.30%. CarMax’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS.
Several equities analysts have issued reports on the stock. Stephens boosted their price objective on shares of CarMax from $130.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Northcoast Research raised shares of CarMax from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Tuesday, January 19th. Seaport Global Securities cut shares of CarMax from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 31st. Wedbush boosted their price objective on shares of CarMax from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 17th. Finally, Oppenheimer upped their price target on shares of CarMax from $130.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, April 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $124.21.
KMX traded up $0.47 during trading on Thursday, hitting $137.41. The stock had a trading volume of 895,032 shares, compared to its average volume of 1,236,981. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.67 and a current ratio of 2.60. The firm has a market capitalization of $22.42 billion, a P/E ratio of 30.14, a PEG ratio of 2.16 and a beta of 1.76. The company’s 50-day moving average price is $130.81 and its 200 day moving average price is $111.65. CarMax has a twelve month low of $70.72 and a twelve month high of $138.00.
In related news, CFO Enrique N. Mayor-Mora sold 9,147 shares of the business’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $126.31, for a total value of $1,155,357.57. Following the sale, the chief financial officer now directly owns 17,416 shares in the company, valued at approximately $2,199,814.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Folliard sold 185,120 shares of the company’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $131.47, for a total transaction of $24,337,726.40. Following the completion of the transaction, the director now owns 392,076 shares in the company, valued at $51,546,231.72. The disclosure for this sale can be found here. Insiders sold a total of 214,396 shares of company stock worth $28,060,337 over the last quarter. Insiders own 2.09% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in KMX. Concord Wealth Partners purchased a new position in CarMax in the 4th quarter valued at about $27,000. Capital Asset Advisory Services LLC purchased a new position in CarMax in the 4th quarter valued at about $31,000. First Horizon Advisors Inc. purchased a new position in CarMax in the 4th quarter valued at about $38,000. Eudaimonia Partners LLC purchased a new position in CarMax in the 3rd quarter valued at about $45,000. Finally, HM Payson & Co. lifted its holdings in CarMax by 500.0% in the 3rd quarter. HM Payson & Co. now owns 600 shares of the company’s stock valued at $55,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 97.59% of the company’s stock.
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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