Equities Analysts Set Expectations for CarMax, Inc’s Q3 2019 Earnings (KMX)

CarMax, Inc (NYSE:KMX) – Investment analysts at William Blair boosted their Q3 2019 earnings per share (EPS) estimates for CarMax in a note issued to investors on Monday, October 29th. William Blair analyst S. Zackfia now expects that the company will post earnings of $1.05 per share for the quarter, up from their previous estimate of $1.04.

KMX has been the topic of several other reports. Morgan Stanley set a $89.00 price objective on CarMax and gave the company a “buy” rating in a research report on Wednesday, August 29th. Robert W. Baird raised CarMax from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 27th. Zacks Investment Research cut CarMax from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Wedbush reaffirmed an “outperform” rating and set a $85.00 price objective on shares of CarMax in a research report on Thursday, August 16th. Finally, ValuEngine cut CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $83.93.

CarMax stock opened at $67.91 on Wednesday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.52 and a current ratio of 2.35. CarMax has a one year low of $57.05 and a one year high of $81.67. The firm has a market cap of $12.23 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.15 and a beta of 1.59.

CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, September 26th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.22 by $0.02. CarMax had a return on equity of 22.26% and a net margin of 4.12%. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the firm posted $0.98 earnings per share. CarMax’s revenue was up 8.6% compared to the same quarter last year.

Hedge funds have recently bought and sold shares of the business. CWM LLC lifted its holdings in CarMax by 266.0% in the third quarter. CWM LLC now owns 1,442 shares of the company’s stock valued at $108,000 after acquiring an additional 1,048 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in CarMax in the third quarter valued at about $123,000. Piedmont Investment Advisors LLC bought a new position in CarMax in the second quarter valued at about $149,000. Fuller & Thaler Asset Management Inc. lifted its holdings in CarMax by 57.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after acquiring an additional 750 shares during the period. Finally, Federated Investors Inc. PA bought a new position in CarMax in the second quarter valued at about $189,000.

In other CarMax news, SVP Mohammad Shamim sold 34,142 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $74.16, for a total value of $2,531,970.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jon G. Daniels sold 16,325 shares of the stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $70.88, for a total value of $1,157,116.00. Following the completion of the transaction, the senior vice president now directly owns 16,325 shares in the company, valued at approximately $1,157,116. The disclosure for this sale can be found here. In the last three months, insiders sold 52,298 shares of company stock worth $3,824,215. 1.97% of the stock is owned by corporate insiders.

About CarMax

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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