CarMax (NYSE:KMX) Posts Earnings Results, Misses Expectations By $0.01 EPS

CarMax (NYSE:KMX) posted its quarterly earnings data on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01), Briefing.com reports. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the business earned $0.75 earnings per share. The company’s revenue was down .9% on a year-over-year basis.

CarMax Stock Up 4.9 %

NYSE:KMX opened at $78.17 on Friday. The business’s fifty day moving average price is $79.76 and its 200 day moving average price is $76.40. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.56 and a beta of 1.69. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KMX shares. Truist Financial increased their price target on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Mizuho dropped their price target on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Evercore ISI raised their price objective on shares of CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Finally, StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.75.

Insiders Place Their Bets

In other news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the transaction, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,690,899.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other CarMax news, CFO Enrique N. Mayor-Mora sold 9,318 shares of CarMax stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total transaction of $777,680.28. Following the completion of the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at approximately $1,690,899.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is currently owned by company insiders.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.