(CRMT) America’s Car Mart, Inc. – Upward Revisions by All Four Covering Analysts

September 23rd, 2009

America’s Car Mart (CRMT) has just announced another earnings surprise and shares have taken off.

Company Description

America’s Car-Mart operates used car dealerships in the U.S., primarily in smaller cities and rural areas. Locations are scattered across the South-Central states and offer financing for most customers.

Income Up 32%

When the company announced first-quarter results for the fiscal year, they included net income of $7.0 million. This was up from $5.3 million one year ago. Earnings per share were 50 cents, up from 45 cents last year.

The 19 cent surprise was driven by an 11% increase in revenues and better profit margins. Existing locations are also grabbing market share from competitors.

Excellent History

America’s Car-Mart has posted 10 consecutive earnings surprises, with this latest report. Estimates have popped as a result. The Zacks Consensus Estimate for this fiscal year is now $2.01, up 31 cents since the announcement.

Forecasts for next year are up 34 cents to $2.34. These levels are after upward revisions by all 4 covering analysts and project growth rates of 25% and 17%, respectively.

Great Value

Shares of CRMT are trading hands at a great value, just 14 times earnings and 12 times forward earnings. The PEG ratio shows growth at better than just a reasonable price, coming in at 0.8 times.

The Chart

Each of the recent earnings announcements have propelled shares into a new trading range and establish a new level of support. Take a look at the chart below.


Zacks Investment Research
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