CarMax Likely To Report Higher Q3 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
CarMax, Inc. (NYSE:KMX) is expected to report higher Q3 earnings with an estimate of 44 cents per share, up from 24 cents per share a year ago. Revenue is projected at $6.33 billion. Despite a revenue decline in Q2 FY24, CarMax beat estimates. The stock closed down 2.6% at $74.68. Analysts have recently adjusted price targets, with JP Morgan cutting from $70 to $60, Wedbush from $90 to $80, Truist Securities holding at $72, Stephens & Co. from $78 to $70, and Baird from $96 to $88.
December 21, 2023 | 6:09 am
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NEUTRAL IMPACT
CarMax is anticipated to report higher Q3 earnings, which could positively impact the stock. However, recent price target cuts by analysts may temper gains.
The expected increase in earnings could be a positive driver for CarMax's stock price in the short term. However, the recent downward adjustments in price targets by several analysts, along with a recent stock price decline, indicate a mixed outlook that could limit the potential upside or even exert downward pressure on the stock. The mixed signals from earnings expectations and analyst sentiment result in a neutral score.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100