CarMax, Inc. (NYSE:KMX) Expected to Earn Q1 2024 Earnings of $1.05 Per Share

CarMax, Inc. (NYSE:KMX – Get Rating) – Equities researchers at William Blair issued their Q1 2024 earnings per share (EPS) estimates for CarMax in a research note issued to investors on Thursday, January 19th. William Blair analyst S. Zackfia forecasts that the company will earn $1.05 per share for the quarter. The consensus estimate for CarMax’s current full-year earnings is $2.84 per share. William Blair also issued estimates for CarMax’s Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.37 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.73 EPS and FY2025 earnings at $3.89 EPS.

CarMax (NYSE:KMX – Get Rating) last posted its earnings results on Thursday, December 22nd. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.34). CarMax had a net margin of 1.82% and a return on equity of 10.69%. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $7.18 billion. During the same period last year, the company earned $1.63 EPS. The business’s quarterly revenue was down 23.7% compared to the same quarter last year.

Several other research firms also recently issued reports on KMX. Argus downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Robert W. Baird decreased their price objective on shares of CarMax from $82.00 to $65.00 in a research note on Friday, December 23rd. Wedbush decreased their price objective on shares of CarMax from $67.00 to $55.00 in a research note on Tuesday, December 20th. Morgan Stanley decreased their price objective on shares of CarMax from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, December 28th. Finally, Oppenheimer decreased their target price on shares of CarMax from $100.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, December 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.40.

CarMax Stock Performance

NYSE KMX opened at $66.08 on Monday. The company has a debt-to-equity ratio of 3.21, a current ratio of 2.57 and a quick ratio of 0.81. CarMax has a 1 year low of $52.10 and a 1 year high of $114.43. The company has a market capitalization of $10.44 billion, a PE ratio of 18.51, a P/E/G ratio of 2.84 and a beta of 1.44. The company has a fifty day moving average of $64.96 and a two-hundred day moving average of $76.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KMX. Curi Wealth Management LLC increased its holdings in CarMax by 595.2% in the second quarter. Curi Wealth Management LLC now owns 292 shares of the company’s stock valued at $26,000 after buying an additional 250 shares in the last quarter. CENTRAL TRUST Co increased its holdings in CarMax by 100.0% in the third quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. MV Capital Management Inc. increased its holdings in CarMax by 233.7% in the second quarter. MV Capital Management Inc. now owns 297 shares of the company’s stock valued at $27,000 after buying an additional 208 shares in the last quarter. Clear Street Markets LLC increased its stake in shares of CarMax by 410.6% during the 2nd quarter. Clear Street Markets LLC now owns 337 shares of the company’s stock worth $30,000 after purchasing an additional 271 shares in the last quarter. Finally, Ronald Blue Trust Inc. purchased a new position in shares of CarMax during the 2nd quarter worth approximately $30,000.

Insider Activity at CarMax

In other news, President & CEO William D. Nash acquired 8,220 shares of CarMax stock in a transaction that occurred on Friday, December 30th. The stock was purchased at an average price of $60.98 per share, for a total transaction of $501,255.60. Following the completion of the transaction, the insider now directly owns 165,128 shares in the company, valued at $10,069,505.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is owned by insiders.

CarMax Company Profile

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CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations.