CarMax, Inc (NYSE:KMX) – Oppenheimer lowered their Q4 2018 earnings estimates for CarMax in a note issued to investors on Thursday, according to Zacks Investment Research. Oppenheimer analyst B. Nagel now forecasts that the company will post earnings per share of $0.82 for the quarter, down from their prior estimate of $0.84. Oppenheimer currently has a “Outperform” rating and a $88.00 target price on the stock. Oppenheimer also issued estimates for CarMax’s Q1 2019 earnings at $1.30 EPS, Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $1.04 EPS and FY2020 earnings at $4.90 EPS.
CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). CarMax had a net margin of 4.07% and a return on equity of 21.77%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis.
Other equities analysts have also recently issued reports about the stock. Wedbush restated an “outperform” rating and set a $81.00 price objective on shares of CarMax in a research report on Wednesday, January 10th. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. ValuEngine cut shares of CarMax from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. UBS Group upgraded shares of CarMax from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 18th. Finally, Susquehanna Bancshares set a $68.00 price objective on shares of CarMax and gave the stock a “hold” rating in a research report on Monday, January 1st. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $79.68.
CarMax (NYSE:KMX) traded up $1.17 during trading hours on Friday, reaching $65.66. 1,473,224 shares of the company’s stock were exchanged, compared to its average volume of 2,310,000. The company has a debt-to-equity ratio of 3.83, a current ratio of 2.70 and a quick ratio of 0.51. The firm has a market capitalization of $11,870.00, a PE ratio of 17.60, a PEG ratio of 1.13 and a beta of 1.53. CarMax has a 52 week low of $54.29 and a 52 week high of $77.64.
In related news, SVP Darren C. Newberry sold 6,584 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $72.61, for a total value of $478,064.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Folliard sold 8,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $68.72, for a total transaction of $549,760.00. Following the completion of the sale, the director now directly owns 447,572 shares of the company’s stock, valued at approximately $30,757,147.84. The disclosure for this sale can be found here. Insiders sold 74,584 shares of company stock valued at $5,226,064 in the last three months. 1.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in CarMax by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock worth $1,146,758,000 after buying an additional 380,038 shares during the period. BlackRock Inc. boosted its stake in CarMax by 2.0% during the fourth quarter. BlackRock Inc. now owns 11,271,436 shares of the company’s stock worth $722,837,000 after buying an additional 219,452 shares during the period. Principal Financial Group Inc. boosted its stake in CarMax by 1.5% during the third quarter. Principal Financial Group Inc. now owns 9,319,193 shares of the company’s stock worth $706,487,000 after buying an additional 142,175 shares during the period. OppenheimerFunds Inc. boosted its stake in CarMax by 11,777.3% during the fourth quarter. OppenheimerFunds Inc. now owns 3,854,895 shares of the company’s stock worth $247,214,000 after buying an additional 3,822,439 shares during the period. Finally, Broad Run Investment Management LLC boosted its stake 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 worth $212,969,000 after buying an additional 29,846 shares during the period.
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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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