CarMax Inc. to Post FY2018 Earnings of $3.70 Per Share, Oppenheimer Holdings Forecasts (KMX)
CarMax Inc. (NYSE:KMX) – Research analysts at Oppenheimer Holdings raised their FY2018 earnings per share estimates for shares of CarMax in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst B. Nagel now anticipates that the firm will post earnings per share of $3.70 for the year, up from their previous estimate of $3.65. Oppenheimer Holdings has a “Buy” rating on the stock.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Thursday. Deutsche Bank AG increased their price objective on shares of CarMax from $65.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, September 22nd. Goldman Sachs Group Inc. set a $63.00 price objective on shares of CarMax and gave the company a “buy” rating in a research note on Monday, September 19th. 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 research note on Monday, September 12th. Finally, Buckingham Research cut shares of CarMax from a “buy” rating to a “neutral” rating and increased their target price 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $62.01.
CarMax (NYSE:KMX) traded down 0.60% during midday trading on Thursday, reaching $52.78. 1,360,270 shares of the company’s stock were exchanged. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 17.16 and a beta of 1.42. The stock’s 50-day moving average is $56.71 and its 200-day moving average is $53.74. CarMax has a 12-month low of $41.25 and a 12-month high of $60.81.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, hitting analysts’ consensus estimates of $0.88. CarMax had a net margin of 3.95% and a return on equity of 20.92%. The business earned $4 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s revenue was up 2.9% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC purchased a new stake in CarMax during the first quarter valued at approximately $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 valued at $146,084,000 after buying an additional 686,131 shares during the period. 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 valued at $185,242,000 after buying an additional 206,898 shares during the period. 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 valued at $46,534,000 after buying an additional 2,405 shares during the period. 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 valued at $1,103,000 after buying an additional 1,093 shares during the period.
In related news, SVP Jon G. Daniels sold 10,000 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. Following the sale, the senior vice president now owns 23,967 shares in the company, valued at $1,222,317. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Edwin J. Hill sold 51,875 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $57.59, for a total transaction of $2,987,481.25. Following the sale, the executive vice president now owns 36,943 shares in the company, valued at approximately $2,127,547.37. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
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.
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.