CarMax (NYSE:KMX) Releases Earnings Results, Misses Expectations By $0.08 EPS

CarMax (NYSE:KMX) released its quarterly earnings data on Thursday. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.08), RTT News reports. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year.

CarMax Trading Down 19.4 %

Shares of NYSE:KMX traded down $15.55 during mid-day trading on Thursday, reaching $64.51. 6,656,505 shares of the company were exchanged, compared to its average volume of 2,077,334. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 1.67 and a beta of 1.58. CarMax has a 1 year low of $63.45 and a 1 year high of $91.25. The firm’s 50-day simple moving average is $79.28 and its 200 day simple moving average is $79.27.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Needham & Company LLC upped their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Truist Financial boosted their price target on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Evercore ISI decreased their price objective on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Finally, Wedbush restated an “outperform” rating and set a $100.00 price target on shares of CarMax in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.64.

Insiders Place Their Bets

In other CarMax news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the completion of the transaction, the chief financial officer now owns 20,260 shares in the company, valued at $1,649,771.80. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now directly owns 227 shares of the company’s stock, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,878 shares of company stock worth $1,872,699 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

About CarMax

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.