Of 19 analysts covering CarMax stock, nine have a Buy or Strong Buy rating and another seven have Hold ratings. At a share price of around $78.00, the implied gain based on a median price target of $82.00 is 5.1%. At the high price target of $135.00, the upside potential is 73.1%.
Fiscal second-quarter revenue is forecast at $7.03 billion, down 8.6% sequentially and by 13.6% year over year. Adjusted EPS are expected to come in at $0.78, down 46% sequentially and a penny lower year over year. For the full 2024 fiscal year ending in February, CarMax is expected to report EPS of $3.07, up 1.4%, on sales of $27.33 billion, down 8%.
CarMax stock trades at 25.3 times expected 2024 EPS, 20.2 times estimated 2025 earnings of $3.85 and 14.5 times estimated 2026 earnings of $5.38 per share. The 52-week trading range is $52.10 to $87.50. CarMax does not pay a dividend, and total shareholder return over the past 12 months is negative 2.16%.
Micron
Shares of semiconductor maker Micron Technology Inc. (NASDAQ: MU) have added almost 37% to their share price over the past 12 months, all of it in 2023. The stock reached a new 52-week high at the end of May but has dropped by about $5.50 per share since then. Micron reports results for its fiscal fourth quarter after markets close Wednesday.
Revenue rose slightly in the May quarter, ending a four-quarter streak of lower-than-expected totals, and that increase is forecast to have improved in the August quarter. Supply has been brought more into line with demand as Micron, and the other memory chip makers, have reduced production. A new Micron high bandwidth memory chip is expected to begin shipping early next year and that should help the company win back market share.
Of 38 analysts covering the stock, 28 have a Buy or Strong Buy rating, while another 7 rate it at Hold. At a share price of around $68.50, the upside potential based on a median price target of $80.00 is 16.8%. At the high target of $100.00, upside potential is 46%.
Fiscal fourth-quarter revenue is forecast at $3.93 billion, up 4.6% sequentially but 40.8% lower year over year. Analysts expect an adjusted loss per share of $1.18, better than the $1.43 loss in the prior quarter and well below EPS of $1.45 in the fourth quarter of fiscal 2022. For the full fiscal year that ended in August, revenue is forecast at $15.46 billion, down 49.8%, and the full-year loss is forecast at $4.53, compared to last year’s EPS of $8.35.
Micron is not expected to post a profit in 2023 or 2024. With a forecast profit of $5.57 in 2025, the stock trades at 12.3 times estimated earnings. The 52-week trading range is $48.43 to $74.77, and Micron pays an annual dividend of $0.46 (yield of 0.68%). Total return over the past 12 months was 38.02%.
Originally published at 24/7 Wall St.
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