Revenue Update on CarMax Inc(NYSE:KMX)

CarMax Inc(NYSE:KMX) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during Pre-market on Sep 21, 2016. Company reported revenue of $4.00B. Analysts estimated a revenue of $4.07B. Earnings per share were $0.88. Analysts had estimated an EPS of $0.87.

In a different note, On Sep 9, 2016, Buckingham Research said it Downgrades its rating on CarMax Inc. The shares have been rated ‘Neutral’ by the firm. On Sep 7, 2016, Baird said it Maintains its rating on CarMax Inc. In the research note, the firm Raises the price-target to $58.00 per share. The shares have been rated ‘Neutral’ by the firm. Susquehanna said it Initiates Coverage on CarMax Inc, according to a research note issued on Aug 25, 2016. The shares have been rated ‘Positive’ by the firm.

CarMax Inc (KMX) shares turned negative on Tuesdays trading session with the shares closing down -0.82 points or -1.45% at a volume of 39,82,102. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $57.15. The peak price level was also seen at $57.15 while the days lowest was $55.655. Finally the shares closed at $55.76. The 52-week high of the shares is $62.68 while the 52-week low is $41.25. According to the latest information available, the market cap of the company is $10,677 M.

Several Insider Transactions has been reported to the SEC. On Aug 16, 2016, William C Jr. Wood (EVP & COO) sold 37,948 shares at $59.53 per share price.Also, On Aug 16, 2016, Eric M Margolin (EVP, Gen. Counsel & Secretary) sold 12,639 shares at $60.21 per share price.On Jul 27, 2016, Edwin J Hill (EVP) sold 51,875 shares at $57.59 per share price, according to the Form-4 filing with the securities and exchange commission.

CarMax Inc. (CarMax) is a holding company engaged in providing used vehicles and related products and services. The Company operates through two business segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations excluding financing provided by CAF. The CarMax Sales Operations segment sells used vehicles purchases used vehicles from customers and other sources sells related products and services and arranges financing options for customers. The Company’s CAF segment consists of its own finance operation that provides vehicle financing through CarMax stores. The CAF products and services include retail merchandising wholesale auctions extended protection plans (EPPs) reconditioning and service and customer credit.

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