CarMax Inc (KMX) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

CarMax Inc (NYSE:KMX) announced its earnings results on Friday. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03, Bloomberg Earnings reports. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.26 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share.

Shares of CarMax (NYSE:KMX) traded up 7.77% on Friday, reaching $74.19. 8,937,488 shares of the company’s stock traded hands. CarMax has a 52 week low of $47.50 and a 52 week high of $74.60. The firm’s 50 day moving average is $66.11 and its 200 day moving average is $62.70. The firm has a market capitalization of $13.60 billion, a P/E ratio of 21.31 and a beta of 1.32.

In other news, Director Thomas J. Folliard sold 16,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $68.39, for a total transaction of $1,094,240.00. Following the completion of the transaction, the director now directly owns 495,572 shares of the company’s stock, valued at $33,892,169.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $66.87, for a total value of $573,945.21. Following the transaction, the chief financial officer now directly owns 70,522 shares of the company’s stock, valued at $4,715,806.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,515 shares of company stock valued at $10,108,759. 1.70% of the stock is currently owned by corporate insiders.

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Several equities analysts have weighed in on the stock. Deutsche Bank AG lowered their target price on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 target price on the stock in a report on Wednesday, August 16th. UBS AG downgraded shares of CarMax from a “positive” rating to a “neutral” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $74.00 target price (up previously from $72.00) on shares of CarMax in a report on Thursday, June 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $77.00 target price (up previously from $73.00) on shares of CarMax in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. CarMax currently has an average rating of “Buy” and an average target price of $72.25.

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.

Earnings History for CarMax (NYSE:KMX)

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