Previous Close | 91.76 |
Open | 91.79 |
Bid | 98.19 x 900 |
Ask | 98.41 x 900 |
Day's Range | 90.25 - 99.22 |
52 Week Range | 84.37 - 155.98 |
Volume | |
Avg. Volume | 2,054,088 |
Market Cap | 15.922B |
Beta (5Y Monthly) | 1.45 |
PE Ratio (TTM) | 13.55 |
EPS (TTM) | 7.26 |
Earnings Date | Mar 30, 2022 - Apr 04, 2022 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 110.69 |
Carvana sought to disrupt the used-car market. Sales soared, but then came the less glamourous business of actually registering the cars.
CarMax reported better-than-expected quarterly earnings early Friday as strong pricing for used cars offset weaker volumes. CarMax stock jumped Friday, retaking a key level. "GPUs (gross profit per unit) were especially strong, above the historical band despite the increase in wholesale prices," Stephens analyst Daniel Imbro wrote in a note to clients on Friday.
Last year, used-car retailers were on a roll, fueled by new-vehicle shortages, low interest rates and a strong consumer. CarMax the largest such retailer in the U.S., reported on Friday that its total revenue grew 21% in the quarter ended May 31 compared with a year earlier—higher than the 18% increase analysts polled by Visible Alpha were expecting. The boost in revenue was mostly thanks to higher prices: While CarMax sold 11% fewer used cars, consumers had to shell out $6,311 more per vehicle on average, a 28% increase from a year earlier.