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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CarMax Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax Inc and related companies with MarketBeat.com's FREE daily email newsletter.