Stock Alert: CarMax Down 3% In Pre Market

(RTTNews) - Shares of used car retailer CarMax, Inc. (KMX) are down more than 3% in pre market trade on Thursday.

Today, the company reported that its fourth-quarter net earnings decreased 2.3% to $209.95 million or $1.27 per share from $214.93 million or $1.30 per share in the same quarter a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $1.26 per share.

Revenues for the quarter, however, grew to $5.164 billion from $4.962 billion last year. The consensus estimate was for $5.17 billion.

Separately, CarMax said it has signed an agreement to acquire the remaining stake in Edmunds, resource for automotive information. In January 2020, CarMax had invested $50 million in Edmunds to acquire a minority stake.

Wednesday, KMX closed at $132.66, down 2.33%. The stock is currently at $128.50