CarMax, Inc (KMX) Expected to Announce Quarterly Sales of $4.44 Billion

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Brokerages expect CarMax, Inc (NYSE:KMX) to post sales of $4.44 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for CarMax’s earnings. The lowest sales estimate is $4.38 billion and the highest is $4.50 billion. CarMax reported sales of $4.11 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8%. The firm is expected to report its next quarterly earnings results on Thursday, December 20th.

According to Zacks, analysts expect that CarMax will report full year sales of $18.47 billion for the current fiscal year, with estimates ranging from $18.06 billion to $18.76 billion. For the next year, analysts forecast that the business will report sales of $19.81 billion, with estimates ranging from $18.86 billion to $20.85 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CarMax.

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

Several research analysts recently issued reports on KMX shares. Morgan Stanley set a $89.00 target price on CarMax and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of CarMax in a research report on Thursday, August 16th. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered CarMax from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Robert W. Baird raised their target price on CarMax from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, June 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. CarMax presently has an average rating of “Buy” and a consensus price target of $83.93.

In other news, SVP Darren C. Newberry sold 1,831 shares of CarMax stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $73.80, for a total value of $135,127.80. Following the completion of the transaction, the senior vice president now directly owns 2,481 shares of the company’s stock, valued at approximately $183,097.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mohammad Shamim sold 34,142 shares of CarMax stock in a transaction dated Monday, October 1st. The stock was 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. Over the last three months, insiders sold 147,603 shares of company stock valued at $11,295,016. Corporate insiders own 1.97% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in CarMax by 12.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,075 shares of the company’s stock valued at $438,000 after buying an additional 809 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CarMax by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,282,622 shares of the company’s stock valued at $79,446,000 after buying an additional 86,519 shares in the last quarter. Stifel Financial Corp increased its position in CarMax by 3.0% in the 1st quarter. Stifel Financial Corp now owns 66,631 shares of the company’s stock valued at $4,130,000 after buying an additional 1,917 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in CarMax by 34.2% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,497 shares of the company’s stock valued at $1,022,000 after buying an additional 4,200 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in CarMax by 0.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 290,169 shares of the company’s stock valued at $17,973,000 after buying an additional 998 shares in the last quarter.

NYSE:KMX traded up $0.01 during trading hours on Friday, hitting $67.86. 1,896,054 shares of the company were exchanged, compared to its average volume of 1,848,999. The firm has a market cap of $13.18 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.21 and a beta of 1.59. The company has a quick ratio of 0.52, a current ratio of 2.35 and a debt-to-equity ratio of 3.78. CarMax has a one year low of $57.05 and a one year high of $81.67.

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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