CarMax Q1 Review, Shares Gain 7 percent


CarMax, Inc. (NYSE:KMX) shares rose more than 7% since Thursday’s close following the company’s reported Q1 results, with EPS coming in at $1.56, slightly missing the Street estimate of $1.58. Revenue came in at $9.3 billion, compared to the Street estimate of $9.12 billion.
While inflationary pressures and the eventual replenishment of new car inventory will undoubtedly weigh on the used vehicle market, analysts at RBC Capital believe the company’s recent investments in digital capabilities position it well to continue gaining share.
The analysts adjusted their 2023/2024 EPS estimates to $5.64/$6.52 from $5.62/$6.47 and raised their price target to $108 from $104.


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