CarMax Inc. (NYSE:KMX) – Equities researchers at Northcoast Research cut their Q3 2017 EPS estimates for shares of CarMax in a research note issued to investors on Thursday. Northcoast Research analyst J. Healy now forecasts that the brokerage will earn $0.69 per share for the quarter, down from their previous forecast of $0.72. Northcoast Research also issued estimates for CarMax’s FY2017 earnings at $3.28 EPS and FY2018 earnings at $3.46 EPS.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.88. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.11 billion. CarMax had a return on equity of 20.54% and a net margin of 4.04%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS.
Several other equities research analysts also recently issued reports on the company. Buckingham Research downgraded CarMax from a “buy” rating to a “neutral” rating and raised their price target for the company from $59.00 to $63.00 in a research report on Friday, September 9th. They noted that the move was a valuation call. Vetr downgraded CarMax from a “buy” rating to a “hold” rating and set a $57.52 price target on the stock. in a research report on Monday, September 12th. Goldman Sachs Group Inc. set a $63.00 price target on CarMax and gave the company a “buy” rating in a research report on Monday, September 19th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $60.00 price target on shares of CarMax in a research report on Tuesday, June 7th. Finally, Wedbush reaffirmed a “hold” rating and issued a $44.00 price target on shares of CarMax in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $62.39.
CarMax (NYSE:KMX) opened at 53.74 on Monday. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 17.47 and a beta of 1.46. CarMax has a one year low of $41.25 and a one year high of $60.81. The company has a 50-day moving average price of $58.16 and a 200-day moving average price of $53.58.
In other news, EVP Eric M. Margolin sold 12,639 shares of CarMax stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $60.21, for a total value of $760,994.19. Following the completion of the transaction, the executive vice president now owns 38,303 shares in the company, valued at $2,306,223.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas W. Reedy, Jr. sold 57,795 shares of CarMax stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $55.45, for a total transaction of $3,204,732.75. Following the completion of the transaction, the chief financial officer now owns 72,135 shares of the company’s stock, valued at approximately $3,999,885.75. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of KMX. Kovitz Investment Group Partners LLC bought a new stake in shares of CarMax during the first quarter worth $39,950,000. Abrams Bison Investments LLC raised its stake in shares of CarMax by 31.6% in the first quarter. Abrams Bison Investments LLC now owns 2,858,787 shares of the company’s stock worth $146,084,000 after buying an additional 686,131 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of CarMax by 6.1% in the first quarter. Wellington Management Group LLP now owns 3,625,082 shares of the company’s stock worth $185,242,000 after buying an additional 206,898 shares in the last quarter. Legal & General Group Plc raised its stake in shares of CarMax by 0.3% in the first quarter. Legal & General Group Plc now owns 910,718 shares of the company’s stock worth $46,534,000 after buying an additional 2,405 shares in the last quarter. Finally, Allen Investment Management LLC raised its stake in shares of CarMax by 5.3% in the first quarter. Allen Investment Management LLC now owns 21,585 shares of the company’s stock worth $1,103,000 after buying an additional 1,093 shares in the last quarter.
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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