Wall Street brokerages forecast that America's Car-Mart, Inc. (NASDAQ:CRMT) will post sales of $136.89 million for the current quarter, Zacks reports. Two analysts have provided estimates for America's Car-Mart’s earnings, with the lowest sales estimate coming in at $135.71 million and the highest estimate coming in at $138.07 million. America's Car-Mart reported sales of $138.78 million during the same quarter last year, which indicates a negative year over year growth rate of 1.4%. The firm is scheduled to report its next earnings results on Monday, February 19th.
According to Zacks, analysts expect that America's Car-Mart will report full year sales of $136.89 million for the current financial year, with estimates ranging from $584.98 million to $585.64 million. For the next financial year, analysts expect that the firm will report sales of $599.96 million per share, with estimates ranging from $594.91 million to $605.02 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for America's Car-Mart.
America's Car-Mart (NASDAQ:CRMT) last announced its earnings results on Thursday, November 16th. The company reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $149.12 million for the quarter, compared to analyst estimates of $149.63 million. America's Car-Mart had a net margin of 3.58% and a return on equity of 9.18%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS.
Several equities research analysts recently commented on CRMT shares. Zacks Investment Research lowered shares of America's Car-Mart from a “hold” rating to a “strong sell” rating in a research note on Monday, October 23rd. ValuEngine raised shares of America's Car-Mart from a “hold” rating to a “buy” rating in a research note on Friday, November 17th. Jefferies Group boosted their price objective on shares of America's Car-Mart from $41.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, November 20th. BidaskClub lowered shares of America's Car-Mart from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Stephens set a $50.00 price objective on shares of America's Car-Mart and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. America's Car-Mart has an average rating of “Hold” and an average target price of $47.50.
In other news, Director Robert Cameron Smith sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $48.44, for a total value of $125,944.00. Following the transaction, the director now owns 3,550 shares in the company, valued at $171,962. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CRMT. Tower Research Capital LLC TRC lifted its stake in shares of America's Car-Mart by 3,157.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the company’s stock worth $137,000 after buying an additional 3,410 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of America's Car-Mart during the second quarter valued at approximately $206,000. Smith Moore & CO. purchased a new position in shares of America's Car-Mart during the third quarter valued at approximately $206,000. The Manufacturers Life Insurance Company raised its holdings in shares of America's Car-Mart by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 6,155 shares of the company’s stock valued at $240,000 after purchasing an additional 112 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of America's Car-Mart during the third quarter valued at approximately $287,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Shares of America's Car-Mart (NASDAQ:CRMT) opened at $45.65 on Tuesday. America's Car-Mart has a 52 week low of $30.20 and a 52 week high of $49.40. The company has a market cap of $314.96, a PE ratio of 16.91 and a beta of 0.95.
America's Car-Mart declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 16th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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About America's Car-Mart
America’s Car-Mart, Inc is an automotive retailer focused on the integrated auto sales and finance segment of the used car market. The Company conducts its operations through its two operating subsidiaries, America’s Car Mart, Inc (Car-Mart of Arkansas) and Colonial Auto Finance, Inc (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart).
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