Q3 2017 EPS Estimates for CarMax Inc. Cut by Analyst (KMX)
CarMax Inc. (NYSE:KMX) – Research analysts at Northcoast Research lowered their Q3 2017 earnings per share (EPS) estimates for CarMax in a note issued to investors on Thursday. Northcoast Research analyst J. Healy now expects that the firm will post earnings per share of $0.69 for the quarter, down from their prior 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 posted its earnings results on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The company earned $4 billion during the quarter, compared to the consensus estimate of $4.11 billion. CarMax had a net margin of 3.95% and a return on equity of 20.92%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share.
A number of other analysts also recently issued reports on the stock. Buckingham Research downgraded shares of CarMax from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $59.00 to $63.00 in a report on Friday, September 9th. They noted that the move was a valuation call. Vetr downgraded shares of CarMax from a “buy” rating to a “hold” rating and set a $57.52 price objective on the stock. in a report on Monday, September 12th. Goldman Sachs Group Inc. set a $63.00 target price on shares of CarMax and gave the company a “buy” rating in a research note on Monday, September 19th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $60.00 target price on shares of CarMax in a research note on Tuesday, June 7th. Finally, Wedbush reissued a “hold” rating and issued a $44.00 target price on shares of CarMax in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.39.
CarMax (NYSE:KMX) traded down 0.39% during mid-day trading on Monday, reaching $53.49. 103,700 shares of the company’s stock traded hands. The stock has a market cap of $10.22 billion, a P/E ratio of 17.39 and a beta of 1.46. CarMax has a 1-year low of $41.25 and a 1-year high of $60.81. The firm has a 50-day moving average price of $57.87 and a 200-day moving average price of $53.65.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC bought a new position in CarMax during the first quarter worth approximately $39,950,000. Abrams Bison Investments LLC increased its position in 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 during the period. Wellington Management Group LLP increased its position in 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 during the period. Legal & General Group Plc increased its position in 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 during the period. Finally, Allen Investment Management LLC increased its position in 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 during the period.
In related news, EVP Eric M. Margolin sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $50.75, for a total value of $101,500.00. Following the completion of the transaction, the executive vice president now owns 34,303 shares of the company’s stock, valued at $1,740,877.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the business’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $55.45, for a total value of $3,204,732.75. Following the completion of the transaction, the chief financial officer now directly 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.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.