$KMX

35 stories mentioning KMXUpdated 1d ago

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Stocks Mostly Up Pre-Bell Ahead of Latest Fed Rate Decision

The main US stock measures were mostly pointing higher in Wednesday's premarket activity as traders await the Federal Reserve's monetary policy decision later in the day, the first under new Chair Kevin Warsh.The S&P 500 edged up 0.1% and the Nasdaq rose 0.5% before the opening bell, while the Dow Jones Industrial Average slipped 0.1%. The Dow recorded a new closing high Tuesday for the second consecutive session, while the S&P 500 and the Nasdaq finished lower.US markets will be closed on Friday for the Juneteenth National Independence Day holiday.The Fed's monetary policy committee will announce its latest decision on interest rates at 2 pm ET. Markets widely expect the central bank to keep interest rates unchanged for a fourth consecutive time, according to the CME FedWatch tool.Warsh, who assumed the Fed chair role last month, is expected to hold a press conference at 2:30 pm.The central bank's latest "dot plot" will likely show that most officials expect monetary policy to be "stagnant" for the rest of the year amid concerns over inflation, Stifel said Tuesday. "The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," according to Stifel.US Treasury yields were up in premarket action, with the two-year rate increasing 0.3 basis points to 4.05% and the 10-year rate adding 0.7 basis points to 4.44%.A draft memorandum of understanding between the US and Iran calls for an immediate and permanent end to hostilities, the lifting of sanctions on Tehran, and negotiations toward a final nuclear agreement, Bloomberg News reported Tuesday, citing a document it reviewed.Under the draft, the US and Iran would begin a 60-day negotiating period aimed at reaching a final agreement, according to Bloomberg. The memorandum is expected to be formally signed in Switzerland on Friday.However, analysts have flagged the possibility of implementation risks and potential disagreements."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note on Tuesday.President Donald Trump said Wednesday at the G7 conference that the proposed memorandum of understanding with Iran is "not final" and the US will "go right back to dropping bombs" if he doesn't like the Iran deal, CNBC reported.West Texas Intermediate crude oil increased 0.4% to $76.36 a barrel before the open, while Brent moved up 0.5% to $79.32.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the retail sales report for May at 8:30 am. Last month's pending home sales index is out at 10 am, while the weekly EIA domestic petroleum inventories report posts at 10:30 am.Shares of SpaceX (SPCX) advanced 1.9% pre-bell after closing the previous session up 4.8%. SoFi Technologies (SOFI) rose 2% while Netflix (NFLX) nudged 0.1% lower.La-Z-Boy's (LZB) stock jumped 17% as the furniture manufacturer reported a year-over-year gain in fiscal fourth-quarter earnings and said it expects sales to outperform the industry in the ongoing quarter.Jabil (JBL) and CarMax (KMX) are scheduled to report their latest financial results before the bell.Gold slipped 0.1% to $4,348 per troy ounce, while bitcoin fell 1.1% to $64,870.

Dow JonesNasdaq CompositeS&P 500$JBL$KMX$LZB$SOFI$SPCX

Wire44d ago

CarMax Likely to Post 'Flat' Q1 Comparable Sales, Truist Says

CarMax (KMX) is expected to report "flat" Q1 comparable used-vehicle sales, up from prior forecast for a 3% decline, Truist Securities said in a Tuesday note.The brokerage said flat comps would imply an acceleration on a two-year basis to 8% from about 3%, though that remains "far shy" of the roughly 30% growth rate being posted by Carvana (CVNA).Truist raised its Q1 earnings estimate to $1.06 per share from $1.03 but said investors are still trying to assess "how much [gross profit per unit] they had to give up" to generate the improved sales trend.CarMax is scheduled to report results before the market opens Wednesday.Truist raised its price target to $47 from $37 and maintained a hold rating.Price: $52.63, Change: $+0.41, Percent Change: +0.79%

$CVNA$KMX

Research64d ago

UBS Initiates Coverage on CarMax With Neutral Rating, $42 Price Target

CarMax (KMX) has an average rating of Hold and mean price target of $37.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$KMX

Wire106d ago

CarMax Facing Mixed Near-Term Outlook, RBC Says

CarMax (KMX) faces a mixed outlook as better unit trends, more cost cuts, and expansion plans could support results, but softer finance income, and higher gas prices may limit the pace of recovery, RBC Capital Markets said in a note emailed Wednesday.RBC said it lowered its Q1 adjusted earnings estimate to $1.01 per share from $1.16 prior on more cautious views for gross profit per unit and CarMax Auto Finance, while expecting fiscal 2027 adjusted earnings of $2.35 per share, and fiscal 2028 net sales growth of 4.3% and adjusted earnings of $2.73 per share.Retail unit trends improved sequentially in Q4, but retail gross profit per unit is expected to stay under pressure through fiscal 2027, with the biggest drop likely in fiscal Q1 as the company keeps pricing competitive, the investment firm said.Finance penetration is expected to grow over the next few quarters, servicing fee income should continue from the 2025-B deal, and CarMax's fiscal 2027 plans include about $400 million in capital spending, four new stores, and more auction and reconditioning sites, according to the note.RBC kept its sector perform rating and raised its price target to $41 from $37 by rolling its valuation forward by one year, and said recent top-line progress were encouraging, even as it questioned how long that momentum can last.Price: $41.15, Change: $-0.51, Percent Change: -1.22%

$KMX

Wire107d ago

CarMax Q4 In Line, Lower Pricing Lifts Sales but Weighs on Profit, Truist Says

CarMax's (KMX) fiscal Q4 results were in line with estimates, suggesting it can drive higher sales through more aggressive pricing, though at the expense of lower gross profit dollars, while comps have softened against stronger comparisons so far in Q1, Truist Securities said Tuesday in a note.The company's shift toward more competitive pricing, primarily via lower GPUs, helped drive an improvement in Q4 used unit comps. However, it came at the cost of lower gross profit. The company is targeting a similar reduction in GPUs throughout 2026 and 2027, with Q1 expected to decline further as it laps a record-high GPU.CarMax also raised its annual selling, general and administrative cost reduction goal to nearly $200 million from $150 million, though this is expected to be largely offset by higher compensation expense.Truist noted that balancing a better customer experience with lower costs may be challenging and expects annual SG&A expenses to be flat or slightly down in calendar year 2026 and decline more sharply in 2027 as comp expense normalizes.The brokerage said it is lowering its calendar year 2026 and 2027 earnings per share estimates to $2.45 and $3.25 from $3.10 and $3.50, respectively.Truist maintained a hold rating on CarMax with a $37 price target.Shares of the company were down more than 16% in Tuesday trading.Price: $40.84, Change: $-8.24, Percent Change: -16.79%

$KMX

Wire107d ago

Top Midday Decliners

Allogene Therapeutics (ALLO) said late Monday it plans an underwritten public offering of $175 million common shares, subject to market and other conditions.Shares sank more than 18% in Tuesday trading and intraday trading volume doubled to over 14.7 million from a daily average of about 7.2 million.CarMax (KMX) shares slumped 15% amid heavy trading after the company posted Tuesday lower fiscal Q4 adjusted earnings and net sales.More than 8.0 million shares of the company traded intraday compared with a daily average of about 3.3 million.Wells Fargo's (WFC) Q1 revenue missed market expectations as Chief Executive Charlie Scharf said Tuesday there will likely be a lag in the pass-through of higher oil prices.Shares slid 4.3%, with intraday trading volume at over 21.0 million versus a daily average of roughly 17.0 million.Price: $2.50, Change: $-0.56, Percent Change: -18.17%

$ALLO$KMX$WFC

Research107d ago

Research Alert: CFRA Reiterates Buy Opinion On Shares Of Carmax Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $5 to $60, based on a FY 28 P/E of 17.4x, a justified discount to KMX's 10-year mean forward P/E of 19.8x. We lower our FY 27 adjusted EPS estimate to $2.70 from $3.05 and introduce FY 28 at $3.45. Following KMX's fiscal Q4 2026 beat, we are raising our price target and reiterating our Buy view. We were encouraged by KMX's earnings release, as the company's top- and bottom-line results came in well above consensus. In our view, KMX has been a poorly managed company for some time and we continue to view it as in the early stages of a turnaround. Moreover, with consumer affordability concerns back in the spotlight due to the uptick in inflation, we think used vehicle demand could benefit - and KMX is one of the only used vehicle pure-plays. We think new CEO Keith Barr has his work cut out to improve margins, but we KMX's volumes and pricing improving in the coming quarters, which should help its bottom line given the significant operating leverage of auto dealerships.

$KMX

Wire107d ago

Update: CarMax Shares Decline Amid Lower Fiscal Q4 Adjusted Earnings, Revenue

(Updates to include CarMax's recent stock movement in the headline and first paragraph.)CarMax (KMX) shares were down more than 13% in early Tuesday trading after the company posted lower fiscal Q4 adjusted earnings and net sales.The company reported fiscal Q4 adjusted earnings of $0.34 per diluted share, down from $0.64 a year earlier.Analysts polled by FactSet expected $0.23.Net sales and operating revenue for the quarter ended Feb. 28 was $5.95 billion, compared with $6.00 billion a year earlier.Analysts surveyed by FactSet expected $5.72 billion.Price: $42.44, Change: $-6.62, Percent Change: -13.49%

$KMX

Sectors107d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Tuesday

Consumer stocks were mixed pre-bell Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.8% higher.CarMax (KMX) shares were down more than 4% after the company posted lower fiscal Q4 adjusted earnings and net sales.Albertsons (ACI) reported higher fiscal Q4 adjusted net income and net sales, and agreed to a settlement framework to resolve opioid-related claims for about $774 million. Albertsons stock was down nearly 3% pre-bell.BetMGM, a joint venture between MGM Resorts International (MGM) and Entain, updated its full-year 2026 net revenue outlook to between $2.9 billion and $3.1 billion, from $3.1 billion to $3.2 billion previously. MGM Resorts International shares were down more than 1% premarket.

$ACI$KMX$MGM$XLP$XLY

Asia Markets107d ago

S&P 500 Rebound, Optimism for US-Iran Deal Move US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Tuesday following a rebound in the S&P 500 as traders were optimistic that a deal could still be reached between US and Iran despite a breakdown in negotiations over the weekend.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.6% higher.The S&P 500 rose over 1% on Monday, erasing losses incurred since the beginning of the Middle East conflict.President Donald Trump said Monday that Iran had reached out to the US and wanted to "make a deal very badly."Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.5% at $97.88 per barrel and US West Texas Intermediate crude 3.2% lower at $95.96 per barrel.The US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a survey compiled by Bloomberg as of 7:45 am ET.In other world markets, Japan's Nikkei closed 2.4% higher, Hong Kong's Hang Seng ended 0.8% higher, and China's Shanghai Composite finished 1% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was up 1.1% in Europe's early afternoon session.In equities, Oracle (ORCL) shares were up 4.9% after the company said it introduced new artificial intelligence-focused features for its utilities software suite. Novo Nordisk (NVO) stock was 3.3% higher after the company said it formed a strategic partnership with Microsoft (MSFT)-backed OpenAI to deploy advanced AI across its operations. In addition, Novo Nordisk received the Medicines and Healthcare products Regulatory Agency approval for a new single-dose 7.2 mg of Wegovy to treat adults with obesity, according to the UK regulator. Tesla (TSLA) shares were up 1.6% after UBS upgraded the company's stock to neutral from sell.On the losing side, CarMax (KMX) shares were down 6.2% after the company reported lower fiscal Q4 adjusted earnings and net sales. Dow (DOW) stock was 1.1% lower after the company named Chief Operating Officer Karen Carter as its chief executive officer, effective July 1.

Dow JonesNasdaq CompositeS&P 500$DOW$KMX$NVO$ORCL$TSLA

Sectors107d ago

Sector Update: Consumer

$KMX

Research107d ago

Research Alert: Kmx: Adjusted Eps Well Ahead Of Consensus; New Ceo's Commentary Encouraging

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CarMax, Inc. (KMX) posted Feb-Q adjusted EPS of $0.34 vs. $0.64 (-47%), well ahead of the $0.21 consensus. Adjusted EPS excluded $1.19/sh of net goodwill and restructuring charges, as reported EPS came in at -$0.85 vs. $0.58 in the year-ago quarter. The beat was due to a stronger-than-expected top line, as net sales fell 1.0% to $5.95B ($220M above consensus) and the gross margin contracted 90 bps to 10.2% (20 bps shy of consensus). Sales volumes were mixed, while pricing was weaker. While KMX's new CEO, Keith Barr, was appointed following the end of the quarter, we found his comments encouraging as he attempts to right the ship. Despite the beat, KMX shares are currently trading 5% lower in pre-market trading. We think the reaction reflects profit taking, as KMX shares had quietly posted a rebound of nearly 60% from the early November lows. We were encouraged by the quarter, as KMX's top and bottom lines exceeded expectations by a wide margin, although one-time items once again weighed on headline EPS.

$KMX

Sectors111d ago

Sector Update: Consumer Stocks Softer Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported. Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the report said. Nike shares fell 3.4%.Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a longer preliminary injunction is needed, the Associated Press reported Friday. Nexstar shares were up 2.8%.Simply Good Foods (SMPL) shares fell 11% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 2.3% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

$KMX$NKE$NXST$SMPL

Sectors111d ago

Sector Update: Consumer Stocks Decline in Afternoon Trading

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Tesla (TSLA) Chief Executive Elon Musk's xAI has filed a lawsuit against the State of Colorado regarding a new AI bill aimed at protecting consumers from "algorithmic discrimination," according to court filings. Tesla shares were down 0.5%.Simply Good Foods (SMPL) shares fell 10% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 1.7% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

$KMX$SMPL$TSLA

US Markets113d ago

CarMax Poised For Fourth-Quarter Beat Amid Better Industry Trends, RBC Says

CarMax's (KMX) fiscal fourth-quarter results are likely to come in better than expected amid improved industry trends, RBC Capital Markets said in a note sent to clients Wednesday.The used-vehicle retailer is scheduled to release its quarterly and full-year results next Tuesday.RBC continues to expect fourth-quarter adjusted earnings of $0.34 per share for the company, ahead of Wall Street's forecast that the brokerage put at $0.20. RBC now expects a 4.4% year-over-year drop in revenue, compared with its previous estimate of a 6.8% slump. The market view calls for a 5.6% decline."The raise is driven by several data sources pointing to better overall industry trends," RBC analyst Steven Shemesh wrote.Shares of CarMax were up 4.4% in Wednesday afternoon trade amid a broad rally on Wall Street following a two-week ceasefire between the US and Iran.On Tuesday, Cox Automotive said wholesale prices of used vehicles in the US last month hit the highest point since summer 2023 as demand remained robust despite the Middle East conflict."The broader category seems to have improved and it's difficult at this point to decipher how much of the improvement stemmed from recent company-specific actions," Shemesh said. "On the call, we'll be looking for specific evidence that these actions are driving results."RBC has a sector perform rating on CarMax's stock and a $37 price target."We skew slightly more cautious on the sustainability of recent momentum, especially as gas prices rise, offsetting the benefit of higher tax refunds (year over year) and weighing on consumer confidence," Shemesh said.Price: $45.50, Change: $+2.19, Percent Change: +5.06%

$KMX

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