CarMax (NYSE:KMX) Issues Earnings Results

CarMax (NYSE:KMX) posted its quarterly earnings data 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 period in the previous year, the company earned $0.75 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis.

CarMax Price Performance

KMX opened at $77.29 on Friday. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The company’s 50-day moving average price is $79.71 and its 200 day moving average price is $76.37. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95.

Analyst Ratings Changes

Several equities analysts have recently commented on KMX shares. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Truist Financial increased their price target on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Evercore ISI increased their price target on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research report on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.92.

Insider Buying and Selling

In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CarMax news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the sale, the chief financial officer now owns 20,260 shares in the company, valued at $1,690,899.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the firm’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 transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock worth $14,803,843 over the last quarter. 1.66% of the stock is owned by company 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.