Research Analysts Set Expectations for CarMax Inc.’s FY2017 Earnings (KMX)
CarMax Inc. (NYSE:KMX) – Equities research analysts at Oppenheimer Holdings upped their FY2017 earnings per share estimates for shares of CarMax in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst B. Nagel now anticipates that the brokerage will post earnings of $3.31 per share for the year, up from their previous forecast of $3.30. Oppenheimer Holdings has a “Buy” rating on the stock. Oppenheimer Holdings also issued estimates for CarMax’s Q4 2017 earnings at $0.81 EPS.
Several other equities analysts have also issued reports on the stock. Buckingham Research lowered shares of CarMax from a “buy” rating to a “neutral” rating and boosted their target price 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 lowered shares of CarMax from a “buy” rating to a “hold” rating and set a $57.52 target price 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 report on Monday, September 19th. Wedbush restated a “hold” rating and issued a $44.00 target price on shares of CarMax in a report on Thursday, June 16th. Finally, Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. CarMax has a consensus rating of “Hold” and an average target price of $62.01.
CarMax (NYSE:KMX) opened at 52.33 on Friday. The company has a market cap of $10.00 billion, a PE ratio of 17.01 and a beta of 1.42. CarMax has a one year low of $41.25 and a one year high of $60.81. The stock has a 50 day moving average price of $56.34 and a 200 day moving average price of $53.75.
CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company earned $4 billion during the quarter, compared to analysts’ expectations of $4.11 billion. CarMax had a return on equity of 20.92% and a net margin of 3.95%. CarMax’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its position in CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock worth $133,000 after buying an additional 900 shares in the last quarter. IFP Advisors Inc increased its position in CarMax by 9.8% in the first quarter. IFP Advisors Inc now owns 2,820 shares of the company’s stock worth $144,000 after buying an additional 251 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its position in CarMax by 91.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,086 shares of the company’s stock worth $151,000 after buying an additional 1,472 shares in the last quarter. Pacer Advisors Inc. increased its position in CarMax by 5.4% in the second quarter. Pacer Advisors Inc. now owns 3,453 shares of the company’s stock worth $169,000 after buying an additional 176 shares in the last quarter. Finally, Sii Investments Inc. WI bought a new position in CarMax during the second quarter worth $208,000.
In other news, VP Natalie L. Wyatt sold 1,417 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $57.81, for a total transaction of $81,916.77. Following the completion of the transaction, the vice president now directly owns 3,020 shares of the company’s stock, valued at approximately $174,586.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey E. Garten sold 6,300 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $53.41, for a total transaction of $336,483.00. Following the transaction, the director now directly owns 21,552 shares of the company’s stock, valued at $1,151,092.32. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company 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.
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