$6.01 Billion in Sales Expected for CarMax, Inc. (NYSE:KMX) This Quarter

Wall Street analysts forecast that CarMax, Inc. (NYSE:KMX) will post sales of $6.01 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for CarMax’s earnings. The lowest sales estimate is $5.80 billion and the highest is $6.27 billion. CarMax posted sales of $3.23 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 86.1%. The company is scheduled to report its next quarterly earnings report on Friday, June 18th.

On average, analysts expect that CarMax will report full-year sales of $22.63 billion for the current financial year, with estimates ranging from $22.19 billion to $23.46 billion. For the next fiscal year, analysts anticipate that the business will report sales of $24.39 billion, with estimates ranging from $23.49 billion to $25.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover CarMax.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, March 31st. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. CarMax had a net margin of 4.01% and a return on equity of 20.30%. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the company earned $1.30 EPS. CarMax’s revenue for the quarter was up 4.1% on a year-over-year basis.

A number of research firms recently weighed in on KMX. Seaport Global Securities cut shares of CarMax from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 31st. Northcoast Research upgraded shares of CarMax from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Tuesday, January 19th. Oppenheimer lifted their price target on shares of CarMax from $130.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Royal Bank of Canada lifted their price target on shares of CarMax from $140.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, April 5th. Finally, Stephens lifted their price target on shares of CarMax from $130.00 to $154.00 and gave the company an “overweight” rating in a report on Monday, April 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $124.21.

Shares of KMX traded up $0.47 during trading hours on Thursday, reaching $137.41. 895,032 shares of the stock traded hands, compared to its average volume of 1,236,981. The company has a current ratio of 2.60, a quick ratio of 0.67 and a debt-to-equity ratio of 3.51. CarMax has a 52-week low of $70.72 and a 52-week high of $138.00. The company’s 50-day moving average price is $130.81 and its two-hundred day moving average price is $111.65. The company has a market cap of $22.42 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 2.16 and a beta of 1.76.

In related news, Director Thomas J. Folliard sold 185,120 shares of CarMax stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $131.47, for a total transaction of $24,337,726.40. Following the completion of the transaction, the director now directly owns 392,076 shares of the company’s stock, valued at approximately $51,546,231.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jon G. Daniels sold 20,129 shares of CarMax stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $127.54, for a total transaction of $2,567,252.66. Following the transaction, the senior vice president now directly owns 21,609 shares of the company’s stock, valued at $2,756,011.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,396 shares of company stock worth $28,060,337. Insiders own 2.09% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in KMX. Concord Wealth Partners purchased a new position in shares of CarMax during the 4th quarter worth about $27,000. Capital Asset Advisory Services LLC purchased a new position in shares of CarMax during the 4th quarter worth about $31,000. First Horizon Advisors Inc. purchased a new stake in CarMax in the 4th quarter valued at about $38,000. Eudaimonia Partners LLC purchased a new stake in CarMax in the 3rd quarter valued at about $45,000. Finally, HM Payson & Co. boosted its position in CarMax by 500.0% in the 3rd quarter. HM Payson & Co. now owns 600 shares of the company’s stock valued at $55,000 after buying an additional 500 shares during the period. 97.59% of the stock is owned by hedge funds and other institutional investors.

About CarMax

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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