CarMax Likely To Report Higher Q3 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

CarMax, Inc. KMX is projected to release financial results for the third quarter ended Nov. 30, 2023, before the opening bell on Dec. 21, 2023.

Analysts expect the company to post quarterly earnings at 44 cents per share, up from year-ago earnings of 24 cents per share. The company’s revenue might come in at $6.33 billion for the latest quarter, according to Benzinga Pro.

CarMax, during September, reported a second-quarter FY24 revenue decline of 13.2% year-on-year to $7.07 billion, beating the analyst consensus estimate of $7.03 billion.

CarMax shares fell 2.6% to close at $74.68 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• JP Morgan analyst Rajat Gupta maintained an Underweight rating and cut the price target from $70 to $60 on Nov. 29, 2023. This analyst has an accuracy rate of 78%.
• Wedbush analyst Seth Basham maintained an Outperform rating and lowered the price target from $90 to $80 on Nov. 16, 2023. This analyst has an accuracy rate of 71%.
• Truist Securities analyst Scot Ciccarelli reiterated a Hol rating with a price target of $72 on Oct. 18, 2023. This analyst has an accuracy rate of 73%.
• Stephens & Co. analyst Daniel Imbro maintained an Equal-Weight rating and cut the price target from $78 to $70 on Sept. 29, 2023. This analyst has an accuracy rate of 77%.
• Baird analyst Craig Kennison maintained an Outperform rating and cut the price target from $96 to $88 on Sept. 29, 2023. This analyst has an accuracy rate of 62%.

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