CarMax Inc Forecasted to Post Q3 2018 Earnings of $0.83 Per Share (KMX)
CarMax Inc (NYSE:KMX) – Analysts at Wedbush boosted their Q3 2018 EPS estimates for shares of CarMax in a research note issued on Wednesday. Wedbush analyst S. Basham now expects that the company will post earnings per share of $0.83 for the quarter, up from their previous estimate of $0.78. Wedbush has a “Outperform” rating and a $77.00 price objective on the stock. Wedbush also issued estimates for CarMax’s FY2018 earnings at $3.81 EPS, Q1 2019 earnings at $1.24 EPS, Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $0.98 EPS, FY2019 earnings at $4.20 EPS and FY2020 earnings at $4.74 EPS.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. CarMax’s revenue was up 10.1% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: “CarMax Inc Forecasted to Post Q3 2018 Earnings of $0.83 Per Share (KMX)” was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/09/16/carmax-inc-forecasted-to-post-q3-2018-earnings-of-0-83-per-share-kmx.html.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of CarMax in a research note on Friday, September 1st. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. BidaskClub upgraded CarMax from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada reiterated a “market perform” rating and set a $63.00 price target (down previously from $71.00) on shares of CarMax in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $70.82.
CarMax (NYSE:KMX) opened at 68.08 on Thursday. The firm has a 50-day moving average price of $66.00 and a 200-day moving average price of $62.68. The company has a market cap of $12.48 billion, a P/E ratio of 19.55 and a beta of 1.32. CarMax has a 12-month low of $47.50 and a 12-month high of $69.66.
Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of CarMax by 8.3% in the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock worth $578,702,000 after buying an additional 706,369 shares during the last quarter. Calamos Advisors LLC raised its holdings in CarMax by 20.3% in the 2nd quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock worth $21,544,000 after purchasing an additional 57,657 shares during the period. PNC Financial Services Group Inc. raised its holdings in CarMax by 6.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock worth $11,467,000 after purchasing an additional 11,352 shares during the period. Gilbert & Cook Inc. acquired a new position in CarMax in the 2nd quarter worth about $270,000. Finally, Legal & General Group Plc raised its holdings in CarMax by 2.6% in the 1st quarter. Legal & General Group Plc now owns 907,143 shares of the company’s stock worth $53,722,000 after purchasing an additional 23,085 shares during the period.
In other news, SVP Mohammad Shamim sold 13,938 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $66.08, for a total value of $921,023.04. Following the sale, the senior vice president now owns 9,218 shares in the company, valued at $609,125.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Folliard sold 50,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $61.41, for a total value of $3,070,500.00. Following the completion of the sale, the director now owns 509,166 shares in the company, valued at approximately $31,267,884.06. The disclosure for this sale can be found here. Insiders sold 188,515 shares of company stock worth $12,085,019 in the last 90 days. Company insiders own 1.70% of the company’s stock.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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