Brokers Offer Predictions for CarMax Inc’s Q2 2018 Earnings (KMX)

CarMax Inc (NYSE:KMX) – Investment analysts at Northcoast Research lifted their Q2 2018 EPS estimates for shares of CarMax in a report released on Wednesday. Northcoast Research analyst J. Healy now forecasts that the company will post earnings per share of $0.96 for the quarter, up from their previous estimate of $0.91. Northcoast Research also issued estimates for CarMax’s FY2018 earnings at $3.72 EPS and FY2019 earnings at $3.88 EPS.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG dropped their price objective on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. CIBC reiterated a “buy” rating on shares of CarMax in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of CarMax in a research note on Monday, July 3rd. ValuEngine upgraded shares of CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $82.00 price objective (up previously from $80.00) on shares of CarMax in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $72.25.

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CarMax (NYSE KMX) opened at 74.19 on Thursday. CarMax has a 12-month low of $47.50 and a 12-month high of $74.60. The company’s 50 day moving average price is $66.11 and its 200-day moving average price is $62.70. The stock has a market cap of $13.60 billion, a price-to-earnings ratio of 21.31 and a beta of 1.32. CarMax also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 12,002 put options on the stock. This represents an increase of approximately 820% compared to the average volume of 1,305 put options.

CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the company posted $0.88 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis.

Institutional investors have recently bought and sold shares of the company. Calamos Advisors LLC boosted its holdings in shares of CarMax by 20.3% in the second quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock valued at $21,544,000 after acquiring an additional 57,657 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 valued at $578,702,000 after acquiring an additional 706,369 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of CarMax by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock valued at $40,552,000 after acquiring an additional 24,390 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of CarMax by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock valued at $11,467,000 after acquiring an additional 11,352 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of CarMax by 16.1% in the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock valued at $1,364,000 after acquiring an additional 3,002 shares in the last quarter.

In other news, Director Thomas J. Folliard sold 16,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $68.39, for a total value of $1,094,240.00. Following the completion of the transaction, the director now directly owns 495,572 shares in the company, valued at $33,892,169.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric M. Margolin sold 18,659 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $64.06, for a total transaction of $1,195,295.54. Following the completion of the transaction, the executive vice president now owns 47,163 shares of the company’s stock, valued at $3,021,261.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,515 shares of company stock valued at $10,108,759. 1.70% of the stock is owned by insiders.

About CarMax

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.

Earnings History and Estimates for CarMax (NYSE:KMX)

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