CarMax (NYSE:KMX) Announces Quarterly Earnings Results

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

CarMax Stock Up 4.9 %

NYSE:KMX opened at $78.17 on Friday. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The stock’s fifty day simple moving average is $79.76 and its 200-day simple moving average is $76.40. The firm has a market capitalization of $12.20 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.56 and a beta of 1.69.

Insider Activity at CarMax

In other news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CarMax news, CFO Enrique N. Mayor-Mora sold 9,318 shares of CarMax stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 of the company’s stock, valued at $1,690,899.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KMX shares. Mizuho cut their price target on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on shares of CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Truist Financial raised their price target on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday. Finally, Evercore ISI upped their price objective on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.75.

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.