William Blair Research Analysts Lower Earnings Estimates for CarMax, Inc (KMX)
CarMax, Inc (NYSE:KMX) – William Blair reduced their FY2019 earnings estimates for shares of CarMax in a research report issued to clients and investors on Thursday, November 15th. William Blair analyst S. Zackfia now forecasts that the company will earn $4.60 per share for the year, down from their prior estimate of $4.69. William Blair also issued estimates for CarMax’s Q4 2019 earnings at $1.03 EPS and FY2020 earnings at $5.01 EPS.
A number of other brokerages also recently issued reports on KMX. Morgan Stanley set a $89.00 price target on CarMax and gave the company a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Robert W. Baird raised CarMax from a “neutral” rating to an “outperform” rating in a report on Thursday, September 27th. Wedbush set a $87.00 price target on CarMax and gave the company a “buy” rating in a report on Thursday, September 27th. Finally, Wolfe Research began coverage on CarMax in a report on Tuesday, October 2nd. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $83.93.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.65 billion. CarMax had a return on equity of 22.26% and a net margin of 4.12%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC increased its position in CarMax by 266.0% in the third quarter. CWM LLC now owns 1,442 shares of the company’s stock worth $108,000 after buying an additional 1,048 shares in the last quarter. Douglass Winthrop Advisors LLC increased its position in CarMax by 12.3% in the third quarter. Douglass Winthrop Advisors LLC now owns 457,689 shares of the company’s stock worth $34,176,000 after buying an additional 50,060 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in CarMax in the second quarter worth about $635,000. Toronto Dominion Bank increased its position in CarMax by 28.4% in the second quarter. Toronto Dominion Bank now owns 130,342 shares of the company’s stock worth $9,496,000 after buying an additional 28,824 shares in the last quarter. Finally, Hutchinson Capital Management CA purchased a new stake in CarMax in the third quarter worth about $7,789,000.
In other CarMax news, SVP Jon G. Daniels sold 16,325 shares of the stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $70.88, for a total value of $1,157,116.00. Following the transaction, the senior vice president now owns 16,325 shares of the company’s stock, valued at $1,157,116. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mohammad Shamim sold 34,142 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $74.16, for a total value of $2,531,970.72. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by corporate insiders.
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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