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CarMax delivered a mixed result in the fourth quarter as it failed to meet revenue expectations of Wall Street but managed an earnings beat. CarMax Auto Finance generated $1.9 billion, resulting in a penetration of 44.7% net of 3-day payoffs. The weighted average contract rate paid to new clients was 10.9%, an increase of 110 basis points from the third quarter and 270 basis points from the same time the previous year. In the quarter, Tier 2 penetration was 19.4%, lower than usual seasonal level
Companies: CarMax (KMX:NYSE)CarMax, Inc. (KMX:NYS)
Baptista Research
CarMax’s stock has been on a downward trajectory since the last quarterly result which had been a major disappointment. The company failed to meet Wall Street expectations in terms of both, revenues as well as earnings. Macro factors, which include vehicle affordability stemming from broad and persistent inflation, low consumer confidence, and climbing interest rates, led to the market-wide decline in used auto sales. In response to consumer demand and the current environment, CarMax continued t
CarMax had a decent start to the 2023 fiscal and generated total sales of $9.3 billion in the first quarter, up 21% from the previous year's period. This increase was primarily driven by growth in average selling prices and wholesale volume gains, which were only partially offset by a decline in the sale of retail used units. The company sold roughly 427,000 cars in total during the first quarter through its retail and wholesale channels, which is a 5.5% decrease from last year. Total unit sales
Companies: CarMax, Inc. (KMX:NYS)CarMax, Inc. (0HTQ:LON)
CarMax’s 2021 results reflected significant growth in earnings, market share, and sales and the company has shown robust progress on its strategic initiatives. CarMax’s diversified business model showed a 49% up in total sales as compared to the previous year because of growth in wholesale volume gains and average selling prices. The retail market share growth is highest as the company focuses on delivering a maximum customer-centric experience in the auto industry. CarMax was able to strike a b
Auto dealer, CarMax Inc. has benefitted heavily from the positive trends in the used car industry. The high level of pricing and supply shortage of new cars coupled with the stimulus package are the reasons behind increased consumer spending on used vehicles. CarMax is milking this used car demand and also launched an e-commerce portal for online car shopping. The company is in expansion mode and plans to open ten new stores in fiscal 2022. The management’s goal is to continue generating double-
Auto dealer, CarMax has become a major beneficiary of the unusually positive trends in the used car industry. With the consumer spending on used cars being propelled by the recent stimulus as well as the high level of pricing and supply shortage of new cars, U.S. consumers are flocking to its outlets to buy more and more used cars. CarMax is completely encashing on this used car demand and has recently launched an e-commerce platform for online car shopping and also planned ten new stores additi
Research Tree provides access to ongoing research coverage, media content and regulatory news on CarMax, Inc.. We currently have 40 research reports from 3 professional analysts.
Companies: Everyman Media Group PLC
Canaccord Genuity
Companies: Marks Electrical Group Plc
Companies: JDW MAB MARS WTB FSTA BOWL CPG SSPG LGRS SSTY OTB HSW TMO GYM MEX
Liberum
Companies: UTL ASC DNLM BWNG MONY DFS BOO
Shore Capital
Domino’s Pizza Group’s (DOM’s) new CEO has set an ambitious long-term growth target, including an acceleration in its net store opening programme. With better alignment between the company and its franchisees, management believes DOM should be capable of generating improved profit growth, versus that achieved in recent years, and potential higher returns.
Companies: Domino's Pizza Group plc
Edison
Companies: Marks and Spencer Group plc
On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div
Companies: PTAL GHH IGP MSLH PINE NXQ EQLS NXR AXL
Zeus Capital
Pinewood’s transition to a pure-play automotive SaaS business is now largely complete. Today we introduce summary forecasts out to FY26 and reiterate the investment case. We see significant opportunity for Pinewood to grow its user base in the UK and internationally whilst generating high EBITDA margins and cash conversion. With a 24.5p special dividend embedded in the current price (payable Q1/Q2), the effective price today is 12.3p. Based on the Group’s FY27 target of £27m EBITDA, we estimate
Companies: Pinewood Technologies Group PLC
Companies: Safestay Plc
Vertu is the fourth largest automotive retailer in the UK, with 188 sales outlets and a track record of cross-cycle growth, principally through businesses it has acquired, funded by equity, debt and most importantly cash generation. Vertu operates across the entire vehicle lifecycle, including new and used vehicle sales, and vehicle servicing, repair and parts. Service and repair is a 40+% gross margin repeating business. With economic headwinds, the transition to electric vehicles, recent overs
Companies: Vertu Motors PLC
Progressive Equity Research
17th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARS TIDE SCE SNX ECK CNS TST SPEC SSTY
Hybridan
React Group is a well-managed, growing UK services business with a high degree of recurring revenues (c87%).
Companies: REACT Group Plc
Dowgate Capital
Companies: SSP Group Plc
Today’s trading statement from ZOO highlights a ramp-up in demand following the end to the industry-wide strikes of last year. ZOO struck a note of caution in its January update regarding the timing of orders. However new productions are starting to translate into a healthy order pipeline, with a good recovery in revenue anticipated in H1 FY25. The update guides to revenue of at least $40m for the year to March 2024, ahead of our estimate at $36.8m. We have improved our adjusted EBITDA loss marg
Companies: ZOO Digital Group plc
During 2023, ME Group commenced the deployment of its next generation photobooths, which are integrated with the group’s newly developed proprietary software, gained market leadership in the Japanese photobooth market with an acquisition, continued to roll out laundry units with existing and new location partners, commenced a share buyback programme and gained entry into the FTSE 250. 2023 was a year of significant strategic and financial progress, with sales up 15%, EPS up 31% and net cash main
Companies: ME Group International plc
Cavendish
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