Q1 2023 Earnings Forecast for CarMax, Inc. Issued By William Blair (NYSE:KMX)

CarMax, Inc. (NYSE:KMXGet Rating) – Stock analysts at William Blair lowered their Q1 2023 earnings per share estimates for CarMax in a research note issued to investors on Thursday, June 16th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $1.78 for the quarter, down from their previous forecast of $1.94. The consensus estimate for CarMax’s current full-year earnings is $6.15 per share. William Blair also issued estimates for CarMax’s Q2 2023 earnings at $1.47 EPS, Q3 2023 earnings at $1.06 EPS, FY2023 earnings at $5.59 EPS and FY2024 earnings at $6.13 EPS.

CarMax (NYSE:KMXGet Rating) last posted its earnings results on Tuesday, April 12th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.30). CarMax had a net margin of 3.61% and a return on equity of 22.74%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the company posted $1.27 earnings per share. The firm’s revenue for the quarter was up 48.8% compared to the same quarter last year.

A number of other brokerages have also recently issued reports on KMX. Royal Bank of Canada reduced their price objective on shares of CarMax from $140.00 to $104.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 13th. Needham & Company LLC initiated coverage on shares of CarMax in a research note on Monday, May 2nd. They issued a “hold” rating for the company. TheStreet downgraded shares of CarMax from a “b-” rating to a “c+” rating in a research note on Tuesday, April 12th. Wedbush reduced their price target on shares of CarMax from $95.00 to $90.00 in a report on Wednesday, April 13th. Finally, Oppenheimer reduced their price objective on shares of CarMax from $158.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, CarMax presently has a consensus rating of “Buy” and a consensus price target of $132.70.

Shares of NYSE:KMX opened at $86.99 on Monday. The company has a current ratio of 3.20, a quick ratio of 0.70 and a debt-to-equity ratio of 3.47. The firm has a fifty day moving average price of $93.58 and a 200 day moving average price of $106.65. CarMax has a 1 year low of $84.37 and a 1 year high of $155.98. The stock has a market capitalization of $13.97 billion, a PE ratio of 12.50, a P/E/G ratio of 0.90 and a beta of 1.42.

Large investors have recently bought and sold shares of the stock. WD Rutherford LLC bought a new position in CarMax in the 1st quarter worth $26,000. Ten Capital Wealth Advisors LLC purchased a new stake in shares of CarMax in the 4th quarter worth about $36,000. Whittier Trust Co. grew its position in shares of CarMax by 480.0% in the 1st quarter. Whittier Trust Co. now owns 290 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. NEXT Financial Group Inc grew its position in shares of CarMax by 51.8% in the 4th quarter. NEXT Financial Group Inc now owns 290 shares of the company’s stock worth $38,000 after buying an additional 99 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of CarMax in the 4th quarter worth about $38,000. Institutional investors own 96.10% of the company’s stock.

About CarMax (Get Rating)

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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Earnings History and Estimates for CarMax (NYSE:KMX)

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