CarMax (NYSE:KMX) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

by · The Cerbat Gem

CarMax (NYSE:KMX – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01), Briefing.com reports. The firm had revenue of $7.01 billion for 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%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share.

CarMax Price Performance

KMX stock traded down $0.89 during trading on Friday, hitting $77.32. The stock had a trading volume of 2,728,204 shares, compared to its average volume of 1,952,629. The stock has a market cap 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 quick ratio of 0.60 and a current ratio of 2.50. The company’s 50 day moving average price is $79.71 and its two-hundred day moving average price is $76.37. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22.

Insider Transactions at CarMax

In related news, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, valued at $1,249,032.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares in the company, valued at approximately $1,249,032.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The disclosure for this sale can be found here. Insiders sold a total of 184,012 shares of company stock worth $14,803,843 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Royal Bank of Canada boosted their target price on CarMax from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of CarMax in a report on Friday, June 21st. Mizuho cut their price target 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. Oppenheimer reissued an “outperform” rating and set a $105.00 price objective on shares of CarMax in a report on Monday, June 24th. Finally, Truist Financial increased their target price on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax presently has an average rating of “Hold” and an average target price of $78.92.

Read Our Latest Research Report on CarMax

CarMax Company Profile

(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.

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