Analysts Set Expectations for CarMax Inc.’s Q1 2018 Earnings (KMX)
CarMax Inc. (NYSE:KMX) – Stock analysts at Oppenheimer Holdings issued their Q1 2018 earnings per share estimates for CarMax in a research note issued to investors on Friday. Oppenheimer Holdings analyst B. Nagel forecasts that the firm will post earnings of $1.00 per share for the quarter. Oppenheimer Holdings currently has a “Outperform” rating on the stock. Oppenheimer Holdings also issued estimates for CarMax’s Q2 2018 earnings at $0.99 EPS, Q3 2018 earnings at $0.81 EPS and Q4 2018 earnings at $0.89 EPS.
Other analysts have also recently issued research reports about the company. Buckingham Research cut CarMax from a “buy” rating to a “neutral” rating and upped their price objective 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. Robert W. Baird upped their price objective on CarMax from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, September 7th. Wedbush upped their price objective on CarMax from $44.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Susquehanna started coverage on CarMax in a research report on Thursday, August 25th. They set a “positive” rating and a $70.00 price objective for the company. Finally, Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. CarMax presently has a consensus rating of “Hold” and a consensus target price of $62.16.
CarMax (NYSE:KMX) opened at 54.78 on Monday. CarMax has a 12-month low of $41.25 and a 12-month high of $60.81. The company has a market capitalization of $10.43 billion, a PE ratio of 17.81 and a beta of 1.24. The firm’s 50 day moving average price is $51.53 and its 200-day moving average price is $53.60.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. The firm had revenue of $4 billion for 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%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS.
A number of institutional investors have recently made changes to their positions in KMX. Conning Inc. raised its position in shares of CarMax by 0.6% in the third quarter. Conning Inc. now owns 4,829 shares of the company’s stock worth $258,000 after buying an additional 30 shares during the last quarter. World Asset Management Inc raised its position in shares of CarMax by 0.3% in the second quarter. World Asset Management Inc now owns 19,322 shares of the company’s stock worth $947,000 after buying an additional 59 shares during the last quarter. Capital One National Association raised its position in shares of CarMax by 0.7% in the third quarter. Capital One National Association now owns 12,596 shares of the company’s stock worth $672,000 after buying an additional 86 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of CarMax by 1.2% in the third quarter. Eqis Capital Management Inc. now owns 7,475 shares of the company’s stock worth $399,000 after buying an additional 92 shares during the last quarter. Finally, Gagnon Securities LLC raised its position in shares of CarMax by 0.4% in the second quarter. Gagnon Securities LLC now owns 24,875 shares of the company’s stock worth $1,220,000 after buying an additional 98 shares during the last quarter.
In related news, Director Jeffrey E. Garten sold 6,300 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $53.41, for a total transaction of $336,483.00. Following the completion of the transaction, the director now directly owns 21,552 shares of the company’s stock, valued at $1,151,092.32. The sale was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.
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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