Automotive retailer CarMax Inc KMX experiences fourth-quarter (This autumn) monetary outcomes Thursday, April 11 earlier than market open.
Listed below are the important thing earnings estimates, what analysts are saying and key objects to look at for buyers.
Earnings Estimates: Analysts count on CarMax to report This autumn income of $5.795 billion in accordance with information from Benzinga Professional.
The estimate could be an enchancment over final yr’s This autumn whole of $5.723 billion. The corporate noticed income down 5.5% year-over-year within the third quarter. CarMax beat income estimates from analysts in two of the final six quarters.
Analysts count on the corporate to report This autumn earnings per share of 49 cents. That will be an enchancment from the 44 cents in the identical interval final yr. The corporate has overwhelmed earnings per share estimates from analysts in three of the final 4 quarters.
What Analysts are Saying: Early constructive information for CarMax’s This autumn not too long ago led to Needham analyst Chris Pierce upgrading shares from Maintain to Purchase.
Pierce, who has a value goal of $99 on CarMax, stated the restoration for the corporate is rising and straightforward comparable gross sales from final yr’s fourth quarter may assist the corporate.
CarMax might even see market share development in This autumn alongside a multi-year restoration path, analysts say.
Listed below are different latest analyst scores and value targets for CarMax.
- Oppenheimer: Outperform ranking, $105 value goal
- RBC Capital: Outperform ranking, $83 value goal
- Wedbush: Outperform ranking, raised value goal from $90 to $100
- Evercore ISI Group: In-Line ranking, raised value goal from $78 to $85
- Mizuho: Impartial ranking, $80 value goal
Associated Hyperlink: ‘Gentle Recession’ To Hit Homebuilders, Auto Shares In Second Half Of 2024, Analyst Says
Key Objects to Watch: The fourth quarter report and commentary from CarMax may present an total have a look at how the used automotive sector is performing.
Traders and analysts may also be watching to see how ecommerce investments and efforts from the corporate are shaping up.
The corporate’s This autumn retail openings included New York Metropolis, Chicago and Los Angeles. Early information from these markets and extra areas deliberate may very well be a key merchandise to look at.
Value reductions have been a key focus of the corporate and the fourth quarter may proceed to focus on this effort by the corporate.
Share repurchases resumed by the corporate within the third quarter and buyers can be trying to see if the corporate purchased extra shares again within the fourth quarter.
One other key can be steerage for the following fiscal yr.
KMX Value Motion: CarMax shares are down 4% to $80.02 on Wednesday versus a 52-week buying and selling vary of $59.66 to $88.22. Shares of the automotive retailer are up 21% during the last yr.
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