Brokerages expect that KAR Auction Services Inc (NYSE:KAR) will post earnings per share (EPS) of $0.28 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for KAR Auction Services’ earnings. The lowest EPS estimate is $0.24 and the highest is $0.31. KAR Auction Services reported earnings per share of $0.62 in the same quarter last year, which indicates a negative year-over-year growth rate of 54.8%. The company is expected to issue its next earnings report on Tuesday, February 18th.
On average, analysts expect that KAR Auction Services will report full-year earnings of $1.15 per share for the current fiscal year, with EPS estimates ranging from $1.12 to $1.22. For the next fiscal year, analysts forecast that the firm will report earnings of $1.47 per share, with EPS estimates ranging from $1.22 to $1.65. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover KAR Auction Services.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). KAR Auction Services had a return on equity of 16.67% and a net margin of 6.95%. The business had revenue of $701.90 million during the quarter, compared to analyst estimates of $697.46 million. During the same quarter last year, the company posted $0.70 EPS. KAR Auction Services’s quarterly revenue was up 14.6% compared to the same quarter last year.
Several equities analysts recently weighed in on the stock. CJS Securities downgraded shares of KAR Auction Services from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. ValuEngine upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.58.
NYSE:KAR traded down $0.28 during midday trading on Monday, hitting $21.74. The company’s stock had a trading volume of 27,667 shares, compared to its average volume of 3,119,298. KAR Auction Services has a fifty-two week low of $16.41 and a fifty-two week high of $28.61. The firm’s 50 day moving average is $23.82 and its 200-day moving average is $33.88. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $2.76 billion, a P/E ratio of 7.36, a P/E/G ratio of 1.29 and a beta of 1.06.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Thursday, December 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 25.68%.
In related news, insider Smith Mark sold 1,063,240 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $0.99, for a total transaction of $1,052,607.60. Also, Director Mark E. Hill acquired 18,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $21.50 per share, with a total value of $397,750.00. Following the completion of the transaction, the director now directly owns 48,200 shares in the company, valued at approximately $1,036,300. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Arlington Partners LLC grew its position in KAR Auction Services by 64.7% in the 3rd quarter. Arlington Partners LLC now owns 1,400 shares of the specialty retailer’s stock valued at $34,000 after acquiring an additional 550 shares in the last quarter. Parkside Financial Bank & Trust grew its position in KAR Auction Services by 78.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,450 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 639 shares in the last quarter. Captrust Financial Advisors acquired a new position in KAR Auction Services in the 2nd quarter valued at about $42,000. Crewe Advisors LLC grew its position in KAR Auction Services by 114.9% in the 3rd quarter. Crewe Advisors LLC now owns 1,870 shares of the specialty retailer’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA grew its position in KAR Auction Services by 30.6% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 4,668 shares of the specialty retailer’s stock valued at $114,000 after acquiring an additional 1,095 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.
About KAR Auction Services
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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