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10 Diversified Stocks to Buy Ahead of Earnings

3. Carmax (KMX - Get Report) buys, reconditions and sells used and new vehicles in its superstores and franchises in the U.S. KMX will announce third-quarter fiscal 2012 results on Dec. 21.

Net income for the quarter is estimated at $89.14 million, or 38 cents per share, compared to $82.36 million, or 36 cents per share, in the same quarter prior fiscal, according to analysts polled by Bloomberg. Sales are seen at $2.26 billion, an increase of 7% from $2.12 billion recorded in the third quarter of fiscal 2011.

EBITDA grew 12% to $166.17 million, as compared to $148.56 million. Operating profit for the period is seen growing 8% to $144.5 million. The company's cash value per share is expected to increase to 54 cents from negative 6 cents.

Of the 17 analysts covering the stock, 65% recommend a buy and 29% rate a hold. Analysts polled by Bloomberg expect the stock to gain an average 17.8% to $35.39 from current levels over the next 12 months.

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