Analysts Expect CarMax Inc (KMX) Will Announce Quarterly Sales of $4.02 Billion

Equities analysts forecast that CarMax Inc (NYSE:KMX) will report $4.02 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for CarMax’s earnings, with estimates ranging from $3.91 billion to $4.15 billion. CarMax posted sales of $3.70 billion during the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The firm is expected to announce its next quarterly earnings results on Tuesday, December 19th.

On average, analysts expect that CarMax will report full year sales of $4.02 billion for the current year, with estimates ranging from $16.96 billion to $17.47 billion. For the next financial year, analysts forecast that the firm will post sales of $18.37 billion per share, with estimates ranging from $17.93 billion to $19.18 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CarMax.

CarMax (NYSE:KMX) last released its earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the company earned $0.88 EPS. CarMax’s quarterly revenue was up 9.7% compared to the same quarter last year.

Several equities analysts have recently issued reports on KMX shares. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Oppenheimer Holdings, Inc. lowered CarMax from an “outperform” rating to a “market perform” rating and set a $80.00 target price for the company. in a research report on Thursday. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Tuesday, July 11th. CIBC upped their price target on shares of CarMax from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, September 19th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $70.00 price target (up previously from $66.00) on shares of CarMax in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $77.93.

In other news, CEO William D. Nash sold 100,522 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $73.85, for a total value of $7,423,549.70. Following the completion of the transaction, the chief executive officer now directly owns 62,902 shares in the company, valued at $4,645,312.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Diane L. Cafritz sold 5,671 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $73.95, for a total value of $419,370.45. Following the completion of the transaction, the senior vice president now owns 7,475 shares of the company’s stock, valued at $552,776.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 644,520 shares of company stock valued at $46,786,223. Company insiders own 1.70% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in CarMax by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock valued at $1,146,758,000 after acquiring an additional 380,038 shares in the last quarter. BlackRock Inc. raised its position in CarMax by 0.5% during the second quarter. BlackRock Inc. now owns 11,142,473 shares of the company’s stock valued at $702,643,000 after acquiring an additional 53,840 shares in the last quarter. Principal Financial Group Inc. raised its position in CarMax by 8.3% during the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock valued at $578,702,000 after acquiring an additional 706,369 shares in the last quarter. Broad Run Investment Management LLC raised its position in CarMax by 0.9% during the second quarter. Broad Run Investment Management LLC now owns 3,377,241 shares of the company’s stock valued at $212,969,000 after acquiring an additional 29,846 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in CarMax by 751.0% during the second quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock valued at $135,465,000 after acquiring an additional 1,895,763 shares in the last quarter.

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CarMax (NYSE:KMX) traded up 0.58% on Thursday, reaching $76.81. 1,298,360 shares of the company’s stock traded hands. The company has a market cap of $14.08 billion, a PE ratio of 22.06 and a beta of 1.38. CarMax has a 12 month low of $47.50 and a 12 month high of $77.64. The firm’s 50 day moving average price is $69.62 and its 200 day moving average price is $63.75.

CarMax Company Profile

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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Earnings History and Estimates for CarMax (NYSE:KMX)

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