Wedbush Comments on CarMax, Inc’s FY2020 Earnings (KMX)

CarMax, Inc (NYSE:KMX) – Equities researchers at Wedbush upped their FY2020 earnings per share estimates for shares of CarMax in a research report issued on Thursday, April 5th. Wedbush analyst S. Basham now forecasts that the company will earn $5.12 per share for the year, up from their prior estimate of $5.10. Wedbush currently has a “Outperform” rating and a $61.94 target price on the stock.

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CarMax (NYSE:KMX) last posted its earnings results on Wednesday, April 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.10). CarMax had a return on equity of 21.09% and a net margin of 3.88%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the previous year, the company posted $0.81 EPS. CarMax’s revenue was up .8% on a year-over-year basis.

A number of other equities research analysts have also issued reports on KMX. Credit Suisse Group reduced their price target on CarMax from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. Deutsche Bank reduced their price target on CarMax from $76.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday. Buckingham Research raised CarMax from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of CarMax in a research report on Tuesday, March 27th. Finally, Bank of America reduced their price target on CarMax from $104.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. CarMax currently has an average rating of “Buy” and an average price target of $78.85.

KMX opened at $60.30 on Monday. CarMax has a 12-month low of $55.05 and a 12-month high of $77.64. The company has a current ratio of 2.61, a quick ratio of 0.51 and a debt-to-equity ratio of 3.84. The stock has a market cap of $10,905.13, a P/E ratio of 16.30, a PEG ratio of 0.92 and a beta of 1.55.

Hedge funds and other institutional investors have recently modified their holdings of the company. Green Square Capital LLC purchased a new position in CarMax during the 4th quarter worth approximately $346,000. D.B. Root & Company LLC purchased a new position in CarMax during the 4th quarter worth approximately $253,000. Xact Kapitalforvaltning AB grew its stake in CarMax by 4.6% during the 4th quarter. Xact Kapitalforvaltning AB now owns 38,424 shares of the company’s stock worth $2,464,000 after buying an additional 1,702 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in CarMax by 11.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 71,385 shares of the company’s stock worth $4,578,000 after buying an additional 7,593 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in CarMax by 24.2% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 105,870 shares of the company’s stock worth $6,789,000 after buying an additional 20,632 shares during the last quarter.

In other news, SVP Darren C. Newberry sold 6,584 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $72.61, for a total transaction of $478,064.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $72.40, for a total value of $579,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,584 shares of company stock worth $3,553,344 in the last three months. Corporate insiders own 1.70% of the company’s stock.

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About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

Earnings History and Estimates for CarMax (NYSE:KMX)

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