CarMax (KMX) Misses Q2 EPS by 64c, Revenue Misses
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CarMax (KMX) Second Quarter Story is of 'Demand Destruction' - Morgan Stanley
September 29, 2022 11:48 AM EDTCarMax's (NYSE: KMX) quarterly results, released premarket on Thursday, demonstrated the current strain on US consumers.
Inflation soaring and interest rates rising have weighed significantly on consumer spending. As a result, CarMax's earnings results missed consensus expectations.
The company stated several macroeconomic factors... More
JPMorgan on CarMax (KMX): 'Expect a Strong Negative Reaction'
September 29, 2022 10:59 AM EDTJPMorgan analyst Rajat Gupta reiterated a Neutral rating and {REMOVEPT} price target on CarMax (NYSE: KMX)
The analyst comments "Expect a strong negative reaction. $0.79 vs JPM $1.37 vs buy-side around ~$1.25. Broad miss across all key metrics including unit growth, SG&A leverage,... More
Evercore ISI Stays Sidelined on CarMax (KMX) Noting Tough Industry Backdrop
September 29, 2022 10:44 AM EDTEvercore ISI analyst Michael Montani reiterated an In Line rating and $90.00 price target on CarMax (NYSE: KMX).
The analyst comments "CarMax is winning market share amidst a tough industry backdrop. It is not buying volume. CarMax retail used unit comps of -8.3% YoY (-6.4% units) was less negative than the -12% YoY F1Q drop (stimulus cycle... More
Morgan Stanley on CarMax (KMX): 'The story of KMX's 2Q is clear: demand destruction'
September 29, 2022 10:43 AM EDTMorgan Stanley analyst Adam Jonas reiterated an Overweight rating and $124.00 price target on CarMax (NYSE: KMX).
The analyst comments "Same store volume down 8.3% YoY, following last quarter's -12.7% YoY, is similar to 2020 levels of unit volume decline and could be a... More
RBC Capital Quick Take on CarMax (KMX) Earnings
September 29, 2022 8:05 AM EDTRBC Capital analyst Steven Shemesh reiterated an Outperform rating and $108.00 price target on CarMax (NYSE: KMX).
The analyst comments "Unsurprisingly, KMX results disappointed, reflecting a continued challenging macro environment. With consumer sentiment weakening, new car production picking up, and rates rising, the... More
Carvana (CVNA) Trades Lower in Sympathy with CarMax (KMX) Following Disappointing KMX Results
September 29, 2022 7:18 AM EDTCarvana (NYSE: CVNA) Trades Lower in Sympathy with CarMax (NYSE: KMX) Following Disappointing KMX Results
KMX -10%CVNA -3.5%... More