Seaport Res Ptn Weighs in on CarMax, Inc.’s Q1 2023 Earnings (NYSE:KMX)

CarMax, Inc. (NYSE:KMXGet Rating) – Investment analysts at Seaport Res Ptn issued their Q1 2023 EPS estimates for shares of CarMax in a research note issued on Wednesday, April 13th. Seaport Res Ptn analyst G. Chin expects that the company will post earnings of $1.60 per share for the quarter. Seaport Res Ptn currently has a “Buy” rating on the stock. Seaport Res Ptn also issued estimates for CarMax’s Q2 2023 earnings at $1.65 EPS, Q3 2023 earnings at $1.43 EPS and Q4 2023 earnings at $1.21 EPS.

Other equities research analysts also recently issued reports about the stock. Bank of America downgraded shares of CarMax from a “buy” rating to a “neutral” rating and lowered their target price for the company from $195.00 to $165.00 in a report on Wednesday, April 6th. Oppenheimer lowered their target price on shares of CarMax from $158.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, April 8th. Robert W. Baird lowered their target price on shares of CarMax from $140.00 to $120.00 in a report on Wednesday. Citic Securities started coverage on shares of CarMax in a report on Friday, January 28th. They issued a “buy” rating and a $130.00 target price for the company. Finally, TheStreet downgraded shares of CarMax from a “b-” rating to a “c+” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $130.64.

CarMax stock opened at $91.79 on Friday. CarMax has a 1 year low of $90.55 and a 1 year high of $155.98. The firm has a 50 day moving average price of $102.77 and a 200 day moving average price of $122.40. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.85 and a beta of 1.45. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.63 and a current ratio of 3.20.

CarMax (NYSE:KMXGet Rating) last issued its quarterly earnings results on Tuesday, April 12th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.36). CarMax had a return on equity of 22.74% and a net margin of 3.61%. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter last year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was up 48.8% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of CarMax during the third quarter worth $26,000. NewSquare Capital LLC acquired a new position in shares of CarMax during the third quarter worth $32,000. Dixon Hughes Goodman Wealth Advisors LLC lifted its position in shares of CarMax by 960.6% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after purchasing an additional 317 shares in the last quarter. Ten Capital Wealth Advisors LLC acquired a new position in shares of CarMax during the fourth quarter worth $36,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of CarMax during the fourth quarter worth $38,000. 94.32% of the stock is currently owned by institutional investors and hedge funds.

About CarMax (Get Rating)

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; 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 whole auctions.

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Earnings History and Estimates for CarMax (NYSE:KMX)

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