CarMax (NYSE:KMX) Issues Quarterly Earnings Results

CarMax (NYSE:KMX) released its earnings results on Wednesday. The company reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.95 by ($0.23), MarketWatch Earnings reports. CarMax had a return on equity of 27.44% and a net margin of 5.03%. The company had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $6.91 billion. During the same period last year, the firm posted $1.79 earnings per share. The company’s revenue was up 48.7% compared to the same quarter last year.

KMX traded down $3.69 during midday trading on Friday, reaching $124.27. The company had a trading volume of 53,276 shares, compared to its average volume of 1,160,062. The company has a quick ratio of 0.69, a current ratio of 2.24 and a debt-to-equity ratio of 3.22. CarMax has a 1 year low of $84.70 and a 1 year high of $147.73. The business has a 50-day moving average of $132.91 and a two-hundred day moving average of $128.68. The company has a market cap of $20.25 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.04 and a beta of 1.61.

Several equities research analysts have commented on the company. Bank of America boosted their target price on CarMax from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, July 16th. Royal Bank of Canada dropped their target price on CarMax from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Friday. Robert W. Baird boosted their target price on CarMax from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday. Guggenheim downgraded CarMax from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Stephens upped their price target on CarMax from $154.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, June 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.93.

In related news, CMO James Lyski sold 63,129 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $139.54, for a total transaction of $8,809,020.66. Following the completion of the transaction, the chief marketing officer now directly owns 79,084 shares of the company’s stock, valued at $11,035,381.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Diane L. Cafritz sold 19,580 shares of the stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $132.69, for a total value of $2,598,070.20. Following the transaction, the senior vice president now directly owns 25,286 shares of the company’s stock, valued at $3,355,199.34. The disclosure for this sale can be found here. Insiders have sold 173,610 shares of company stock valued at $23,556,971 in the last quarter. 1.76% of the stock is currently owned by company insiders.

About CarMax

CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment comprises of all aspects of its auto merchandising and service operations.

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Earnings History for CarMax (NYSE:KMX)

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