Brokers Offer Predictions for CarMax, Inc’s FY2019 Earnings (NYSE:KMX)

CarMax, Inc (NYSE:KMX) – Equities researchers at Oppenheimer cut their FY2019 earnings per share (EPS) estimates for shares of CarMax in a research note issued to investors on Wednesday, March 27th, Zacks Investment Research reports. Oppenheimer analyst B. Nagel now forecasts that the company will post earnings of $4.69 per share for the year, down from their previous forecast of $4.72. Oppenheimer also issued estimates for CarMax’s Q4 2019 earnings at $1.03 EPS.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, March 29th. The company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.09. CarMax had a net margin of 4.64% and a return on equity of 24.67%. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the company earned $0.88 EPS. CarMax’s quarterly revenue was up 5.7% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. Buckingham Research upgraded shares of CarMax from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Wedbush set a $70.00 price objective on shares of CarMax and gave the stock a “buy” rating in a research note on Wednesday, January 2nd. Guggenheim raised shares of CarMax from a “neutral” rating to a “buy” rating in a research note on Monday, December 24th. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Finally, ValuEngine raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $82.00.

NYSE:KMX traded down $0.42 during midday trading on Thursday, hitting $77.00. The company’s stock had a trading volume of 1,438,808 shares, compared to its average volume of 2,243,402. CarMax has a fifty-two week low of $55.24 and a fifty-two week high of $81.67. The company has a current ratio of 2.45, a quick ratio of 0.53 and a debt-to-equity ratio of 4.11. The company has a market cap of $13.10 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28.

Hedge funds and other institutional investors have recently modified their holdings of the business. Liberty Wealth Management LLC acquired a new position in shares of CarMax in the first quarter valued at approximately $39,000. Highland Capital Management LLC acquired a new stake in CarMax in the first quarter valued at $1,174,000. IFM Investors Pty Ltd lifted its position in shares of CarMax by 14.5% in the first quarter. IFM Investors Pty Ltd now owns 12,226 shares of the company’s stock valued at $853,000 after acquiring an additional 1,547 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of CarMax by 15.0% in the first quarter. Wedbush Securities Inc. now owns 8,993 shares of the company’s stock valued at $628,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of CarMax by 0.3% in the first quarter. Nisa Investment Advisors LLC now owns 103,518 shares of the company’s stock valued at $7,226,000 after acquiring an additional 300 shares in the last quarter.

In other news, SVP Diane L. Cafritz sold 3,484 shares of CarMax stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $71.04, for a total transaction of $247,503.36. Following the transaction, the senior vice president now owns 11,331 shares in the company, valued at approximately $804,954.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 360,006 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $71.18, for a total value of $25,625,227.08. Following the sale, the director now directly owns 511,879 shares of the company’s stock, valued at $36,435,547.22. The disclosure for this sale can be found here. Insiders have sold a total of 383,655 shares of company stock worth $27,437,638 in the last quarter. Insiders own 1.97% of the company’s stock.

CarMax Company Profile

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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Earnings History and Estimates for CarMax (NYSE:KMX)

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