These Analysts Revise Their Forecasts On CarMax After Q3 Results

Core Insights - CarMax Inc. reported better-than-expected third-quarter 2025 earnings with earnings per share of 43 cents, surpassing the analyst consensus estimate of 39 cents [1] - Adjusted earnings per share for the quarter were 51 cents, excluding restructuring charges of 8 cents per share [1] - Quarterly sales reached $5.794 billion, a decrease of 6.9% year-over-year, but exceeded the Street view of $5.678 billion [1] Management Commentary - Interim President and CEO David McCreight acknowledged the need for change despite the company's strong physical and digital infrastructure, brand, and culture [2] - McCreight emphasized the commitment to position CarMax for success while the Board searches for a permanent CEO [2] - Following the earnings announcement, CarMax shares dipped 1.6% to $38.71 [2] Analyst Reactions - Mizuho analyst David Bellinger maintained a Neutral rating and lowered the price target from $46 to $36 [4] - Wedbush analyst Scott Devitt also maintained a Neutral rating and cut the price target from $40 to $36 [4] - Stephens & Co. analyst Jeff Lick maintained an Equal-Weight rating and reduced the price target from $39 to $36 [4] - JP Morgan analyst Rajat Gupta maintained an Underweight rating and lowered the price target from $30 to $28 [4] - RBC Capital analyst Steven Shemesh maintained a Sector Perform rating and raised the price target from $34 to $37 [4]