Zacks: Brokerages Anticipate America’s Car-Mart, Inc. (CRMT) Will Announce Quarterly Sales of $164.73 Million

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Equities analysts forecast that America’s Car-Mart, Inc. (NASDAQ:CRMT) will announce $164.73 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for America’s Car-Mart’s earnings, with the lowest sales estimate coming in at $164.32 million and the highest estimate coming in at $165.13 million. America’s Car-Mart posted sales of $149.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.5%. The company is scheduled to report its next quarterly earnings results on Thursday, November 15th.

According to Zacks, analysts expect that America’s Car-Mart will report full-year sales of $662.04 million for the current financial year, with estimates ranging from $658.23 million to $665.84 million. For the next fiscal year, analysts expect that the company will report sales of $687.16 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for America’s Car-Mart.

America’s Car-Mart (NASDAQ:CRMT) last posted its quarterly earnings data on Thursday, August 16th. The company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.38. The company had revenue of $164.02 million for the quarter, compared to analysts’ expectations of $161.39 million. America’s Car-Mart had a net margin of 5.97% and a return on equity of 11.86%.

CRMT has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of America’s Car-Mart from a “hold” rating to a “strong-buy” rating and set a $75.00 price objective on the stock in a research report on Friday, May 25th. ValuEngine upgraded shares of America’s Car-Mart from a “hold” rating to a “buy” rating in a research report on Tuesday, April 24th. BidaskClub upgraded shares of America’s Car-Mart from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 26th. Janney Montgomery Scott upped their price objective on shares of America’s Car-Mart from $53.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, May 23rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $82.00 price objective on shares of America’s Car-Mart in a research report on Friday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $84.25.

CRMT stock opened at $80.10 on Tuesday. The company has a market capitalization of $464.23 million, a P/E ratio of 21.78 and a beta of 0.94. America’s Car-Mart has a 1-year low of $36.50 and a 1-year high of $89.85.

In other America’s Car-Mart news, major shareholder Magnolia Capital Fund, Lp sold 3,150 shares of the stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $67.10, for a total transaction of $211,365.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Henderson sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $63.22, for a total transaction of $632,200.00. Following the transaction, the director now owns 122,879 shares in the company, valued at $7,768,410.38. The disclosure for this sale can be found here. Insiders have sold 226,971 shares of company stock worth $14,562,926 over the last quarter. Company insiders own 10.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN boosted its stake in shares of America’s Car-Mart by 16.4% during the fourth quarter. Wells Fargo & Company MN now owns 11,317 shares of the company’s stock valued at $506,000 after purchasing an additional 1,592 shares during the period. Deutsche Bank AG boosted its stake in shares of America’s Car-Mart by 14.9% during the fourth quarter. Deutsche Bank AG now owns 45,608 shares of the company’s stock valued at $2,034,000 after purchasing an additional 5,918 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of America’s Car-Mart during the fourth quarter valued at approximately $160,000. Intrinsic Edge Capital Management LLC boosted its stake in shares of America’s Car-Mart by 45.9% during the first quarter. Intrinsic Edge Capital Management LLC now owns 65,199 shares of the company’s stock valued at $3,289,000 after purchasing an additional 20,499 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in shares of America’s Car-Mart during the first quarter valued at approximately $304,000. Institutional investors and hedge funds own 68.51% of the company’s stock.

America’s Car-Mart Company Profile

America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company primarily sells older model used vehicles and provides financing for its customers. As of June 28, 2018, it operated 140 dealerships. America's Car-Mart, Inc was founded in 1981 and is based in Bentonville, Arkansas.

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Earnings History and Estimates for America`s Car-Mart (NASDAQ:CRMT)

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