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

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CarMax, Inc (NYSE:KMX) – Equities research analysts at Wedbush cut their FY2020 earnings per share estimates for shares of CarMax in a report released on Tuesday, March 12th. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $4.98 for the year, down from their prior estimate of $5.06. Wedbush has a “Neutral” rating and a $60.00 price target on the stock. Wedbush also issued estimates for CarMax’s FY2021 earnings at $5.55 EPS.

CarMax (NYSE:KMX) last released its earnings results on Friday, December 21st. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. CarMax had a net margin of 4.30% and a return on equity of 23.26%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. CarMax’s revenue was up 4.6% compared to the same quarter last year.

A number of other equities research analysts also recently issued reports on KMX. ValuEngine downgraded shares of CarMax from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Royal Bank of Canada decreased their price objective on shares of CarMax to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. Oppenheimer reiterated a “buy” rating on shares of CarMax in a research note on Thursday, December 20th. Guggenheim upgraded shares of CarMax from a “neutral” rating to a “buy” rating in a research note on Monday, December 24th. Finally, Buckingham Research upgraded shares of CarMax from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $81.00.

CarMax stock opened at $60.61 on Friday. CarMax has a 1 year low of $55.24 and a 1 year high of $81.67. The company has a market capitalization of $10.31 billion, a P/E ratio of 16.38, a P/E/G ratio of 0.85 and a beta of 1.26. The company has a quick ratio of 0.52, a current ratio of 2.50 and a debt-to-equity ratio of 3.93.

Large investors have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new stake in shares of CarMax during the fourth quarter worth $27,000. Citizens Financial Group Inc RI acquired a new stake in shares of CarMax during the fourth quarter worth $33,000. Private Capital Group LLC raised its holdings in shares of CarMax by 35.3% during the fourth quarter. Private Capital Group LLC now owns 721 shares of the company’s stock worth $45,000 after purchasing an additional 188 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in shares of CarMax during the fourth quarter worth $48,000. Finally, Enlightenment Research LLC acquired a new stake in shares of CarMax during the fourth quarter worth $50,000. 99.63% of the stock is currently owned by institutional investors.

CarMax Company Profile

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; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Earnings History and Estimates for CarMax (NYSE:KMX)

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