Q2 2024 EPS Estimates for CarMax, Inc. Increased by Analyst (NYSE:KMX)

Posted by on Jul 13th, 2023

CarMax, Inc. (NYSE:KMX – Free Report) – Research analysts at Seaport Res Ptn upped their Q2 2024 EPS estimates for shares of CarMax in a report issued on Monday, July 10th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings of $0.74 per share for the quarter, up from their previous estimate of $0.62. The consensus estimate for CarMax’s current full-year earnings is $2.82 per share. Seaport Res Ptn also issued estimates for CarMax’s Q3 2024 earnings at $0.53 EPS and Q4 2024 earnings at $0.53 EPS.

CarMax (NYSE:KMX – Get Free Report) last released its earnings results on Friday, June 23rd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.65. CarMax had a net margin of 1.64% and a return on equity of 7.46%. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter was down 17.4% compared to the same quarter last year.

A number of other research firms have also recently commented on KMX. Evercore ISI upped their target price on shares of CarMax from $76.00 to $83.00 in a research report on Monday, June 26th. Northcoast Research cut shares of CarMax from a “buy” rating to a “neutral” rating in a research report on Monday, June 12th. Truist Financial raised their target price on shares of CarMax from $64.00 to $82.00 in a report on Monday, June 26th. Morgan Stanley raised their target price on shares of CarMax from $75.00 to $80.00 in a report on Wednesday, June 28th. Finally, Royal Bank of Canada raised their target price on shares of CarMax from $70.00 to $90.00 in a report on Monday, June 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CarMax presently has a consensus rating of “Hold” and an average price target of $74.00.

CarMax Trading Down 0.1 %

Shares of KMX opened at $84.20 on Wednesday. The firm has a 50-day moving average price of $77.02 and a 200 day moving average price of $70.39. CarMax has a 12-month low of $52.10 and a 12-month high of $106.24. The company has a current ratio of 2.54, a quick ratio of 0.61 and a debt-to-equity ratio of 3.12. The firm has a market capitalization of $13.32 billion, a P/E ratio of 28.93, a P/E/G ratio of 1.60 and a beta of 1.44.

Hedge Funds Weigh In On CarMax

Several large investors have recently added to or reduced their stakes in KMX. Larson Financial Group LLC acquired a new stake in CarMax in the first quarter worth $25,000. CENTRAL TRUST Co increased its holdings in shares of CarMax by 100.0% during the third quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. General Partner Inc. acquired a new position in shares of CarMax during the fourth quarter valued at $31,000. Blume Capital Management Inc. bought a new position in CarMax during the first quarter valued at about $31,000. Finally, VitalStone Financial LLC bought a new position in CarMax during the first quarter valued at about $33,000.

Insider Buying and Selling at CarMax

In other news, CEO William D. Nash sold 170,646 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $82.57, for a total transaction of $14,090,240.22. Following the completion of the sale, the chief executive officer now owns 177,180 shares in the company, valued at approximately $14,629,752.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CarMax news, SVP Jon G. Daniels sold 27,783 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $82.42, for a total value of $2,289,874.86. Following the transaction, the senior vice president now directly owns 7,255 shares of the company’s stock, valued at approximately $597,957.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Nash sold 170,646 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $82.57, for a total value of $14,090,240.22. Following the transaction, the chief executive officer now owns 177,180 shares in the company, valued at $14,629,752.60. The disclosure for this sale can be found here. Insiders sold 229,865 shares of company stock worth $19,036,764 in the last 90 days. 1.66% of the stock is owned by company insiders.

CarMax Company Profile

(Get Free Report)

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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Earnings History and Estimates for CarMax (NYSE:KMX)

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