CarMax, Inc. (NYSE:KMX) Expected to Announce Earnings of $1.60 Per Share

Equities analysts expect that CarMax, Inc. (NYSE:KMXGet Rating) will post earnings of $1.60 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for CarMax’s earnings, with estimates ranging from $1.43 to $1.94. CarMax reported earnings of $2.63 per share in the same quarter last year, which would suggest a negative year over year growth rate of 39.2%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that CarMax will report full year earnings of $6.30 per share for the current year, with EPS estimates ranging from $5.25 to $7.65. For the next fiscal year, analysts forecast that the company will report earnings of $6.69 per share, with EPS estimates ranging from $6.25 to $7.33. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow CarMax.

CarMax (NYSE:KMXGet Rating) last issued its earnings results on Tuesday, April 12th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.30). The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. CarMax had a return on equity of 22.74% and a net margin of 3.61%. CarMax’s revenue was up 48.8% on a year-over-year basis. During the same period last year, the business posted $1.27 EPS.

Several research firms recently commented on KMX. TheStreet downgraded shares of CarMax from a “b-” rating to a “c+” rating in a research report on Tuesday, April 12th. Citic Securities started coverage on shares of CarMax in a research report on Friday, January 28th. They set a “buy” rating and a $130.00 price objective for the company. StockNews.com started coverage on shares of CarMax in a research report on Thursday, March 31st. They set a “sell” rating for the company. JPMorgan Chase & Co. cut shares of CarMax from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $110.00 in a research note on Wednesday, April 13th. Finally, Royal Bank of Canada cut their price objective on shares of CarMax from $140.00 to $104.00 and set an “outperform” rating on the stock in a report on Wednesday, April 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $130.64.

KMX stock traded up $0.40 on Friday, hitting $91.66. The company’s stock had a trading volume of 2,184,603 shares, compared to its average volume of 1,872,653. The firm has a 50 day moving average of $96.50 and a two-hundred day moving average of $116.14. CarMax has a 1 year low of $85.36 and a 1 year high of $155.98. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. The company has a current ratio of 3.20, a quick ratio of 0.70 and a debt-to-equity ratio of 3.47.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in CarMax by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,690,606 shares of the company’s stock valued at $1,706,790,000 after acquiring an additional 303,973 shares during the last quarter. BlackRock Inc. boosted its holdings in CarMax by 2.0% in the first quarter. BlackRock Inc. now owns 10,408,259 shares of the company’s stock valued at $1,004,188,000 after acquiring an additional 207,959 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in CarMax by 10.2% in the first quarter. Principal Financial Group Inc. now owns 9,933,838 shares of the company’s stock valued at $958,417,000 after acquiring an additional 917,939 shares during the last quarter. Akre Capital Management LLC boosted its holdings in CarMax by 0.7% in the first quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock valued at $708,159,000 after acquiring an additional 49,780 shares during the last quarter. Finally, State Street Corp boosted its holdings in CarMax by 3.1% in the fourth quarter. State Street Corp now owns 6,556,838 shares of the company’s stock valued at $853,897,000 after acquiring an additional 196,926 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

About CarMax (Get Rating)

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; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through whole auctions.

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