$9.65 Billion in Sales Expected for CarMax, Inc. (NYSE:KMX) This Quarter

Brokerages expect that CarMax, Inc. (NYSE:KMX – Get Rating) will report sales of $9.65 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CarMax’s earnings, with the lowest sales estimate coming in at $8.79 billion and the highest estimate coming in at $10.10 billion. CarMax reported sales of $7.70 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 25.3%. The company is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that CarMax will report full-year sales of $33.36 billion for the current fiscal year, with estimates ranging from $31.47 billion to $35.69 billion. For the next year, analysts anticipate that the company will post sales of $34.28 billion, with estimates ranging from $33.18 billion to $35.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover CarMax.

CarMax (NYSE:KMX – Get Rating) last released its quarterly earnings data on Tuesday, April 12th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.36). The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a return on equity of 22.74% and a net margin of 3.61%. The business’s revenue was up 48.8% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS.

A number of research firms have recently weighed in on KMX. JPMorgan Chase & Co. lowered CarMax from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday, April 13th. Robert W. Baird dropped their price objective on CarMax from $140.00 to $120.00 in a research note on Wednesday, April 13th. Wedbush dropped their price objective on CarMax from $95.00 to $90.00 in a research note on Wednesday, April 13th. StockNews.com started coverage on CarMax in a research note on Thursday, March 31st. They set a “sell” rating for the company. Finally, TheStreet lowered CarMax from a “b-” rating to a “c+” rating in a research note on Tuesday, April 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.64.

A number of hedge funds have recently modified their holdings of KMX. Mark Sheptoff Financial Planning LLC purchased a new stake in CarMax during the third quarter valued at approximately $26,000. NewSquare Capital LLC purchased a new stake in CarMax during the third quarter valued at approximately $32,000. Dixon Hughes Goodman Wealth Advisors LLC raised its holdings in shares of CarMax by 960.6% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after buying an additional 317 shares during the period. Ten Capital Wealth Advisors LLC purchased a new stake in shares of CarMax in the fourth quarter worth approximately $36,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of CarMax in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 94.32% of the company’s stock.

NYSE KMX opened at $91.11 on Tuesday. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.87 and a beta of 1.45. The company has a quick ratio of 0.70, a current ratio of 3.20 and a debt-to-equity ratio of 3.47. The business has a 50-day moving average price of $102.14 and a 200-day moving average price of $121.58. CarMax has a twelve month low of $90.44 and a twelve month high of $155.98.

CarMax Company Profile (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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