$5.07 Billion in Sales Expected for CarMax, Inc (NYSE:KMX) This Quarter

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Brokerages expect CarMax, Inc (NYSE:KMX) to post $5.07 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for CarMax’s earnings, with the lowest sales estimate coming in at $4.92 billion and the highest estimate coming in at $5.15 billion. CarMax reported sales of $4.77 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The business is scheduled to announce its next quarterly earnings report on Wednesday, September 25th.

According to Zacks, analysts expect that CarMax will report full year sales of $19.62 billion for the current year, with estimates ranging from $19.29 billion to $19.92 billion. For the next year, analysts anticipate that the business will post sales of $20.72 billion, with estimates ranging from $19.98 billion to $21.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CarMax.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.10. CarMax had a return on equity of 25.37% and a net margin of 4.64%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the company earned $1.33 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year.

KMX has been the subject of a number of research analyst reports. Northcoast Research downgraded CarMax from a “buy” rating to a “neutral” rating and set a $86.50 target price for the company. in a report on Friday, June 28th. Royal Bank of Canada lifted their target price on CarMax from $86.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, June 19th. Robert W. Baird lifted their target price on CarMax from $80.00 to $99.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Wedbush lifted their target price on CarMax from $65.00 to $80.00 and gave the stock an “average” rating in a report on Monday, June 24th. Finally, Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. CarMax has an average rating of “Buy” and a consensus target price of $93.81.

Shares of KMX opened at $83.79 on Monday. CarMax has a 1 year low of $55.24 and a 1 year high of $92.01. The company has a debt-to-equity ratio of 4.20, a current ratio of 2.21 and a quick ratio of 0.49. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.30 and a beta of 1.20. The business has a 50-day moving average of $86.66 and a 200-day moving average of $75.62.

In other CarMax news, SVP Mohammad Shamim sold 15,782 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $83.88, for a total value of $1,323,794.16. Following the completion of the sale, the senior vice president now owns 18,606 shares of the company’s stock, valued at $1,560,671.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Edwin J. Hill sold 81,959 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $84.19, for a total value of $6,900,128.21. Following the completion of the sale, the chief operating officer now directly owns 90,529 shares of the company’s stock, valued at approximately $7,621,636.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 377,047 shares of company stock valued at $31,898,938. 2.09% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. AdvisorNet Financial Inc grew its stake in CarMax by 86.9% in the second quarter. AdvisorNet Financial Inc now owns 398 shares of the company’s stock valued at $35,000 after acquiring an additional 185 shares during the period. Hanson & Doremus Investment Management acquired a new stake in CarMax in the second quarter valued at approximately $51,000. FNY Investment Advisers LLC grew its stake in CarMax by 6,633.3% in the second quarter. FNY Investment Advisers LLC now owns 588 shares of the company’s stock valued at $51,000 after acquiring an additional 597 shares during the period. HM Payson & Co. acquired a new stake in CarMax in the second quarter valued at approximately $52,000. Finally, Carroll Financial Associates Inc. grew its stake in CarMax by 181.1% in the second quarter. Carroll Financial Associates Inc. now owns 759 shares of the company’s stock valued at $65,000 after acquiring an additional 489 shares during the period.

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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