Brokers Set Expectations for CarMax Inc’s Q3 2018 Earnings (KMX)
CarMax Inc (NYSE:KMX) – Equities researchers at Wedbush raised their Q3 2018 earnings per share (EPS) estimates for CarMax in a research note issued to investors on Monday. Wedbush analyst S. Basham now forecasts that the company will earn $0.85 per share for the quarter, up from their previous forecast of $0.83. Wedbush has a “Outperform” rating and a $81.00 price target on the stock. Wedbush also issued estimates for CarMax’s Q4 2018 earnings at $0.91 EPS, FY2018 earnings at $3.87 EPS, Q3 2019 earnings at $0.90 EPS, Q4 2019 earnings at $0.99 EPS and FY2019 earnings at $4.21 EPS.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the business earned $0.88 EPS. The business’s revenue was up 9.7% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This news story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/09/28/brokers-set-expectations-for-carmax-incs-q3-2018-earnings-kmx.html.
Several other research firms also recently commented on KMX. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Tuesday. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $75.00 target price (up from $66.00) on shares of CarMax in a report on Tuesday. Citigroup Inc. boosted their target price on CarMax to $84.00 and gave the stock a “buy” rating in a report on Monday. Goldman Sachs Group, Inc. (The) downgraded CarMax from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $74.00 to $79.00 in a report on Monday. Finally, Royal Bank Of Canada boosted their target price on CarMax from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $77.00.
Shares of CarMax (NYSE:KMX) traded down 0.44% during trading on Tuesday, reaching $75.02. The company’s stock had a trading volume of 869,606 shares. CarMax has a one year low of $47.50 and a one year high of $75.65. The firm has a market cap of $13.75 billion, a P/E ratio of 21.55 and a beta of 1.32. The stock’s 50 day moving average is $66.11 and its 200 day moving average is $62.70.
Hedge funds have recently bought and sold shares of the business. Calamos Advisors LLC lifted its holdings in CarMax by 20.3% in the second quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock valued at $21,544,000 after acquiring an additional 57,657 shares during the period. Principal Financial Group Inc. lifted its holdings in CarMax by 8.3% in the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock valued at $578,702,000 after acquiring an additional 706,369 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in CarMax by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock valued at $40,552,000 after acquiring an additional 24,390 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CarMax by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock valued at $11,467,000 after acquiring an additional 11,352 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in CarMax by 16.1% in the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock valued at $1,364,000 after acquiring an additional 3,002 shares during the period.
In other CarMax news, Director Thomas J. Folliard sold 16,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $68.39, for a total value of $1,094,240.00. Following the transaction, the director now owns 495,572 shares of the company’s stock, valued at $33,892,169.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mohammad Shamim sold 13,938 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $66.08, for a total value of $921,023.04. Following the completion of the transaction, the senior vice president now directly owns 9,218 shares in the company, valued at approximately $609,125.44. The disclosure for this sale can be found here. In the last three months, insiders sold 154,515 shares of company stock worth $10,108,759. 1.70% of the stock is owned by corporate 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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