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

by · The Markets Daily

CarMax (NYSE:KMX – Get Free Report) released its earnings results on Thursday. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01), Briefing.com reports. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year.

CarMax Price Performance

Shares of NYSE:KMX traded down $0.89 during trading on Friday, reaching $77.32. The company had a trading volume of 2,728,204 shares, compared to its average volume of 1,952,629. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a fifty day moving average of $79.71 and a two-hundred day moving average of $76.37. The stock has a market capitalization of $12.07 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

Insider Transactions at CarMax

In related news, SVP John M. Stuckey III sold 19,673 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $82.01, for a total transaction of $1,613,382.73. Following the transaction, the senior vice president now owns 969 shares of the company’s stock, valued at approximately $79,467.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CarMax news, SVP John M. Stuckey III sold 19,673 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 969 shares of the company’s stock, valued at approximately $79,467.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value 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 disclosure for this sale can be found here. In the last three months, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank of Canada upped their price objective on CarMax from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Truist Financial upped their price objective on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Finally, Evercore ISI raised their price objective on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, CarMax presently has an average rating of “Hold” and a consensus price target of $78.92.

Read Our Latest Analysis on KMX

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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