11:15 AM EDT, 09/17/2024 (MT Newswires) -- CarMax's ( KMX ) Auto Finance segment securitization trust figures for August suggest a "new post-pandemic-lockdown peak of delinquencies plus extensions, and another jump in losses," Wedbush said in a report Tuesday.

The investment firm cut CarMax Auto Finance's income estimates amid a "weaker macro outlook and building auto finance industry-wide pressures."

However, Wedbush's fiscal Q2 EPS estimate of $0.86 for CarMax ( KMX ) is still above consensus estimates at $0.84 due to strong comps, that came in above market expectations, the report said.

"While the outlook is bumpy, we are encouraged that [CarMax ( KMX )] is set to deliver its first quarter in two years with material market share gains when it reports F2Q earnings" on Sept. 26, Wedbush said.

The investment firm has an outperform rating on CarMax ( KMX ) and a $95 price target.

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