CarMax (NYSE:KMX) Announces Quarterly Earnings Results

CarMax (NYSE:KMX) announced its quarterly 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 firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year.

CarMax Stock Performance

Shares of KMX stock opened at $77.29 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The company’s fifty day moving average price is $79.71 and its two-hundred day moving average price is $76.37. The firm has a market capitalization of $12.06 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.56 and a beta of 1.69. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Argus raised shares of CarMax to a “hold” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. increased their target price on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Monday, June 24th. StockNews.com upgraded shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC boosted their price target on CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, CarMax currently has a consensus rating of “Hold” and an average price target of $78.92.

Insider Transactions at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of the company’s 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 sale, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO William D. Nash sold 120,000 shares of the business’s 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 completion of the sale, 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 legal filing with the SEC, which is available through this link. Also, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $965,567.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,012 shares of company stock valued at $14,803,843. 1.66% of the stock is currently owned by 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.