Q1 2024 Earnings Forecast for CarMax, Inc. (NYSE:KMX) Issued By William Blair

CarMax, Inc. (NYSE:KMX – Get Rating) – Equities researchers at William Blair lifted their Q1 2024 EPS estimates for CarMax in a research note issued to investors on Tuesday, May 16th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $0.78 for the quarter, up from their previous estimate of $0.73. The consensus estimate for CarMax’s current full-year earnings is $2.26 per share. William Blair also issued estimates for CarMax’s Q2 2024 earnings at $0.48 EPS, Q4 2024 earnings at $0.44 EPS, FY2024 earnings at $2.04 EPS and FY2025 earnings at $3.45 EPS.

CarMax (NYSE:KMX – Get Rating) last posted its quarterly earnings results on Tuesday, April 11th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. CarMax had a net margin of 1.63% and a return on equity of 8.85%. The business had revenue of $5.72 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was down 25.6% on a year-over-year basis.

Other equities analysts have also issued research reports about the stock. Stephens cut their price target on shares of CarMax from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Friday, March 31st. Truist Financial lowered their target price on shares of CarMax from $66.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, April 12th. Bank of America lifted their target price on shares of CarMax from $40.00 to $44.00 and gave the stock an “underperform” rating in a research note on Thursday, April 13th. Robert W. Baird lifted their target price on shares of CarMax from $65.00 to $80.00 in a research note on Wednesday, April 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, March 10th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $65.40.

CarMax Stock Performance

Shares of CarMax stock opened at $71.75 on Friday. CarMax has a fifty-two week low of $52.10 and a fifty-two week high of $106.24. The company has a debt-to-equity ratio of 3.17, a current ratio of 2.60 and a quick ratio of 0.68. The firm has a market capitalization of $11.34 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.73 and a beta of 1.43. The company’s 50 day moving average price is $66.16 and its two-hundred day moving average price is $66.93.

Hedge Funds Weigh In On CarMax

Hedge funds and other institutional investors have recently modified their holdings of the business. Diamond Hill Capital Management Inc. acquired a new position in CarMax during the 4th quarter worth approximately $327,964,000. Norges Bank acquired a new stake in CarMax in the 4th quarter valued at about $99,730,000. Fiduciary Management Inc. WI grew its stake in CarMax by 46.1% in the 3rd quarter. Fiduciary Management Inc. WI now owns 2,588,830 shares of the company’s stock valued at $170,915,000 after acquiring an additional 817,285 shares during the last quarter. Wellington Management Group LLP grew its stake in CarMax by 29.4% in the 1st quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock valued at $342,400,000 after acquiring an additional 805,438 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in CarMax by 562.7% in the 4th quarter. Renaissance Technologies LLC now owns 887,400 shares of the company’s stock valued at $54,034,000 after purchasing an additional 753,500 shares in the last quarter.

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.