FY2021 EPS Estimates for CarMax, Inc Reduced by Wedbush (KMX)
CarMax, Inc (NYSE:KMX) – Research analysts at Wedbush reduced their FY2021 earnings per share (EPS) estimates for CarMax in a report released on Wednesday, November 7th. Wedbush analyst S. Basham now forecasts that the company will earn $5.78 per share for the year, down from their previous estimate of $5.79. Wedbush has a “Buy” rating and a $87.00 price target on the stock.
Other analysts have also issued research reports about the company. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Friday, October 5th. Morgan Stanley set a $89.00 price objective on CarMax and gave the company a “buy” rating in a report on Wednesday, August 29th. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Robert W. Baird upgraded CarMax from a “neutral” rating to an “outperform” rating in a report on Thursday, September 27th. Finally, Wolfe Research initiated coverage on CarMax in a report on Tuesday, October 2nd. They issued a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $83.93.
CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, September 26th. The company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.02. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.65 billion. CarMax had a return on equity of 22.26% and a net margin of 4.12%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share.
Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of CarMax by 266.0% during the third quarter. CWM LLC now owns 1,442 shares of the company’s stock valued at $108,000 after purchasing an additional 1,048 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of CarMax during the third quarter valued at $123,000. JNBA Financial Advisors lifted its holdings in shares of CarMax by 3,526.9% during the third quarter. JNBA Financial Advisors now owns 1,886 shares of the company’s stock valued at $141,000 after purchasing an additional 1,834 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of CarMax during the second quarter valued at $149,000. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of CarMax by 57.7% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after purchasing an additional 750 shares during the last quarter.
In other news, SVP Darren C. Newberry sold 1,831 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $73.80, for a total transaction of $135,127.80. Following the completion of the sale, the senior vice president now directly owns 2,481 shares of the company’s stock, valued at $183,097.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mohammad Shamim sold 34,142 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $74.16, for a total value of $2,531,970.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,298 shares of company stock valued at $3,824,215. 1.97% of the stock is currently owned by company insiders.
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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