CarMax Q2FY26 Results: Analysts raise PTs ahead of Sept. 29 earnings
- CarMax reports Q2 earnings on Sept. 29; consensus EPS is $0.70 vs $0.64 prior year
- Revenue expected at $6.94 billion, up from $6.59 billion a year ago
- JP Morgan raised price target to $70 from $60 on Sept. 18
- Shares closed at $57.21 on Friday, down 2%
- Company beat expectations in Q1 earnings reported on June 17
*this image is generated using AI for illustrative purposes only.
CarMax, Inc. (NYSE: KMX) will release its second quarter earnings before the market opens on Tuesday, Sept. 29. Wall Street forecasters have recently revised their outlook for the Richmond-based retailer.
Analysts project quarterly earnings per share of $0.70, up from $0.64 in the year-ago period. The consensus revenue estimate stands at $6.94 billion, compared to $6.59 billion reported last year.
Analyst Ratings And Price Targets
Several analysts maintained their ratings while raising price targets in recent weeks. JP Morgan analyst Rajat Gupta raised the target from $60 to $70 on Sept. 18, 2026, maintaining a Neutral rating.
Other notable adjustments include:
| Analyst Firm | Analyst Name | Rating | New Price Target | Previous Target | Date |
|---|---|---|---|---|---|
| JP Morgan | Rajat Gupta | Neutral | $70 | $60 | Sept. 18, 2026 |
| Stephens & Co. | Jeff Lick | Equal-Weight | $66 | $43 | June 18, 2026 |
| Truist Securities | Scot Ciccarelli | Hold | $50 | $47 | June 18, 2026 |
| Evercore ISI Group | Michael Montani | In-Line | $58 | $45 | June 18, 2026 |
| RBC Capital | Steven Shemesh | Sector Perform | $45 | $41 | June 18, 2026 |
CarMax shares fell 2% to close at $57.21 on Friday. The company previously posted better-than-expected earnings for the first quarter on June 17.
How might the recent upward revisions in analyst price targets influence CarMax's stock performance immediately following the Q2 earnings release?
What specific operational metrics, such as used vehicle inventory levels or gross margins, are investors likely to scrutinize to validate the consensus revenue estimate of $6.94 billion?
Given the mixed analyst ratings ranging from Neutral to Hold, what key factors could drive a shift in sentiment toward a more bullish outlook for CarMax in the coming quarters?
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