Oppenheimer Weighs in on CarMax, Inc’s FY2019 Earnings (KMX)

CarMax, Inc (NYSE:KMX) – Equities research analysts at Oppenheimer lifted their FY2019 earnings per share (EPS) estimates for CarMax in a research note issued on Wednesday, October 17th. Oppenheimer analyst B. Nagel now anticipates that the company will post earnings of $4.62 per share for the year, up from their prior estimate of $4.60. Oppenheimer also issued estimates for CarMax’s Q4 2019 earnings at $1.06 EPS.

Several other research firms have also weighed in on KMX. ValuEngine upgraded shares of CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Credit Suisse Group lifted their price objective on shares of CarMax from $81.00 to $87.00 and gave the company an “outperform” rating in a research note on Monday, June 25th. Wedbush reiterated an “outperform” rating and issued a $85.00 price objective on shares of CarMax in a research note on Thursday, August 16th. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, July 10th. Finally, Wolfe Research initiated coverage on shares of CarMax in a research note on Tuesday, October 2nd. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. CarMax has a consensus rating of “Buy” and a consensus target price of $83.93.

CarMax stock opened at $68.65 on Thursday. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.13 and a beta of 1.59. The company has a debt-to-equity ratio of 3.78, a current ratio of 2.35 and a quick ratio of 0.52. CarMax has a 52-week low of $57.05 and a 52-week high of $81.67.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of KMX. Principal Financial Group Inc. grew its position in CarMax by 4.3% in the 1st quarter. Principal Financial Group Inc. now owns 9,658,783 shares of the company’s stock valued at $598,264,000 after purchasing an additional 402,543 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in CarMax by 11.5% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,527 shares of the company’s stock valued at $1,018,000 after purchasing an additional 1,701 shares during the period. LPL Financial LLC grew its position in CarMax by 10.9% in the 1st quarter. LPL Financial LLC now owns 21,852 shares of the company’s stock valued at $1,354,000 after purchasing an additional 2,141 shares during the period. Guggenheim Capital LLC grew its position in CarMax by 8.5% in the 1st quarter. Guggenheim Capital LLC now owns 661,056 shares of the company’s stock valued at $40,945,000 after purchasing an additional 51,913 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its position in CarMax by 9.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 41,483 shares of the company’s stock valued at $2,570,000 after purchasing an additional 3,715 shares during the period.

In related news, SVP Mohammad Shamim sold 34,142 shares of CarMax 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Darren C. Newberry sold 1,831 shares of CarMax stock in a transaction 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 completion of the sale, the senior vice president now directly owns 2,481 shares of the company’s stock, valued at approximately $183,097.80. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

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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