CarMax (NYSE:KMX) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

CarMax (NYSE:KMXGet Free Report) released its earnings results on Friday. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03, RTT News reports. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share.

CarMax Price Performance

KMX stock opened at $71.63 on Monday. The firm has a 50 day moving average price of $70.25 and a 200-day moving average price of $73.88. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.40 and a beta of 1.69. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26.

Insider Activity

In related news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KMX shares. Bank of America increased their target price on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Monday, April 15th. Needham & Company LLC reduced their price objective on CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, Mizuho dropped their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.17.

Check Out Our Latest Analysis on KMX

About CarMax

(Get Free Report)

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.

Further Reading

Earnings History for CarMax (NYSE:KMX)

Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with's FREE daily email newsletter.