FY2021 EPS Estimates for CarMax, Inc Reduced by Wedbush (KMX)

CarMax, Inc (NYSE:KMX) – Equities researchers at Wedbush cut their FY2021 earnings per share (EPS) estimates for shares of CarMax in a report issued on Wednesday, November 7th. Wedbush analyst S. Basham now expects that the company will earn $5.78 per share for the year, down from their prior forecast of $5.79. Wedbush currently has a “Buy” rating and a $87.00 price objective on the stock.

CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the firm posted $0.98 EPS. The business’s revenue was up 8.6% on a year-over-year basis.

A number of other equities research analysts have also recently weighed in on KMX. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Friday, October 5th. Wolfe Research began coverage on CarMax in a research note on Tuesday, October 2nd. They issued a “peer perform” rating for the company. ValuEngine cut CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Robert W. Baird raised CarMax from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 27th. Finally, Morgan Stanley set a $89.00 target price on CarMax and gave the company a “buy” rating in a research note on Wednesday, August 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $83.93.

KMX stock opened at $65.72 on Friday. CarMax has a fifty-two week low of $57.05 and a fifty-two week high of $81.67. The firm has a market cap of $11.90 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62. The company has a quick ratio of 0.52, a current ratio of 2.35 and a debt-to-equity ratio of 3.78.

In related news, SVP Jon G. Daniels sold 16,325 shares of CarMax stock in a transaction on Monday, October 29th. The stock was sold at an average price of $70.88, for a total transaction of $1,157,116.00. Following the completion of the sale, the senior vice president now directly owns 16,325 shares of the company’s stock, valued at $1,157,116. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Darren C. Newberry sold 1,831 shares of CarMax stock in a transaction on Friday, August 17th. The stock was sold at an average price of $73.80, for a total value of $135,127.80. Following the sale, the senior vice president now directly owns 2,481 shares of the company’s stock, valued at $183,097.80. The disclosure for this sale can be found here. Insiders sold a total of 52,298 shares of company stock valued at $3,824,215 over the last three months. Insiders own 1.97% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its holdings in CarMax by 266.0% during the third quarter. CWM LLC now owns 1,442 shares of the company’s stock worth $108,000 after acquiring an additional 1,048 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in CarMax during the third quarter worth about $123,000. JNBA Financial Advisors lifted its holdings in CarMax by 3,526.9% during the third quarter. JNBA Financial Advisors now owns 1,886 shares of the company’s stock worth $141,000 after acquiring an additional 1,834 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in CarMax during the second quarter worth about $149,000. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in CarMax by 57.7% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock worth $149,000 after acquiring an additional 750 shares in the last quarter.

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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