Equities Analysts Issue Forecasts for CarMax, Inc’s FY2021 Earnings (KMX)

CarMax, Inc (NYSE:KMX) – Analysts at Wedbush issued their FY2021 earnings per share (EPS) estimates for shares of CarMax in a research report issued on Tuesday, October 16th. Wedbush analyst S. Basham anticipates that the company will post earnings per share of $5.79 for the year. Wedbush currently has a “Buy” rating and a $87.00 target price on the stock.

KMX has been the topic of a number of other reports. Morgan Stanley upgraded shares of CarMax from an “underweight” rating to an “overweight” rating in a report on Tuesday, July 10th. Robert W. Baird boosted their target price on shares of CarMax from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, June 25th. Buckingham Research downgraded shares of CarMax from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $75.00 to $84.00 in a report on Monday, June 25th. They noted that the move was a valuation call. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Northcoast Research reiterated a “buy” rating and issued a $85.00 target price on shares of CarMax in a report on Thursday, June 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. CarMax presently has an average rating of “Buy” and an average target price of $83.93.

NYSE KMX opened at $68.65 on Thursday. 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 12 month low of $57.05 and a 12 month high of $81.67. The company has a market capitalization of $12.21 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.59.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, September 26th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. CarMax had a net margin of 4.12% and a return on equity of 22.26%. The business had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis.

In other news, SVP Mohammad Shamim sold 34,142 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $74.16, for a total transaction of $2,531,970.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Darren C. Newberry sold 1,831 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $73.80, for a total transaction of $135,127.80. Following the sale, the senior vice president now owns 2,481 shares in the company, valued at approximately $183,097.80. The disclosure for this sale can be found here. 1.97% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Argent Trust Co increased its stake in CarMax by 14.6% in the 2nd quarter. Argent Trust Co now owns 5,783 shares of the company’s stock valued at $421,000 after buying an additional 737 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in CarMax by 57.7% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after buying an additional 750 shares during the period. First Republic Investment Management Inc. increased its stake in CarMax by 7.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 12,448 shares of the company’s stock valued at $907,000 after buying an additional 829 shares during the period. Meadow Creek Investment Management LLC increased its stake in CarMax by 12.2% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 7,898 shares of the company’s stock valued at $575,000 after buying an additional 858 shares during the period. Finally, Atria Investments LLC increased its stake in CarMax by 19.6% in the 2nd quarter. Atria Investments LLC now owns 5,251 shares of the company’s stock valued at $383,000 after buying an additional 859 shares during the period.

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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Earnings History and Estimates for CarMax (NYSE:KMX)

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