CarMax (NYSE:KMX) Announces Quarterly Earnings Results

CarMax (NYSE:KMX) posted its earnings results 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 company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS.

CarMax Trading Down 1.1 %

Shares of CarMax stock traded down $0.89 on Friday, hitting $77.32. 2,728,204 shares of the company’s stock traded hands, compared to its average volume of 1,952,629. The company has a fifty day moving average of $79.71 and a two-hundred day moving average of $76.37. CarMax has a one year low of $59.66 and a one year high of $88.22. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KMX shares. JPMorgan Chase & Co. increased their price objective on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Needham & Company LLC upped their target price on CarMax from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Evercore ISI upped their price objective on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research note on Friday. Finally, Morgan Stanley reissued an “overweight” rating and set a $80.00 target price on shares of CarMax in a report on Friday, June 21st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.92.

Insiders Place Their Bets

In other CarMax news, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO William D. Nash sold 120,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John M. Stuckey III sold 19,673 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $82.01, for a total value of $1,613,382.73. Following the completion of the sale, the senior vice president now directly owns 969 shares of the company’s stock, valued at $79,467.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is owned by corporate insiders.

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.