CarMax Likely To Report Lower Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

CarMax, Inc. (NYSE:KMX) will release earnings results for its third quarter before the opening bell on Thursday, Dec. 18.

Analysts expect the Richmond, Virginia-based company to report quarterly earnings at 32 cents per share, down from 81 cents per share in the year-ago period. The consensus estimate for CarMax's quarterly revenue is $5.63 billion, compared to $6.22 billion a year earlier, according to data from Benzinga Pro.

On Sept. 25, CarMax reported worse-than-expected second-quarter financial results.

CarMax shares fell 0.7% to close at $40.63 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Wedbush analyst Scott Devitt maintained a Neutral rating with a price target of $40 on Nov. 18, 2025. This analyst has an accuracy rate of 80%.
• Truist Securities analyst Scot Ciccarelli maintained a Hold rating and lowered the price target from $47 to $35 on Nov. 7, 2025. This analyst has an accuracy rate of 71%.
• JP Morgan analyst Rajat Gupta downgraded the stock from Neutral to Underweight and cut the price target from $50 to $30 on Nov. 6, 2025. This analyst has an accuracy rate of 75%.
• William Blair analyst Sharon Zackfia downgraded the stock from Outperform to Market Perform on Nov. 6, 2025. This analyst has an accuracy rate of 65%.
• Stephens & Co. analyst Jeff Lick downgraded the stock from Overweight to Equal-Weight and cut the price target from $53 to $42 on Oct. 7, 2025. This analyst has an accuracy rate of 75%.

Considering buying KMX stock? Here’s what analysts think:

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