Zacks: Analysts Expect KAR Auction Services Inc (KAR) Will Announce Quarterly Sales of $885.49 Million

Equities analysts expect KAR Auction Services Inc (NYSE:KAR) to post sales of $885.49 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for KAR Auction Services’ earnings, with estimates ranging from $865.03 million to $916.12 million. KAR Auction Services reported sales of $813.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.8%. The company is scheduled to report its next earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that KAR Auction Services will report full year sales of $885.49 million for the current year, with estimates ranging from $3.43 billion to $3.48 billion. For the next year, analysts expect that the business will post sales of $3.69 billion per share, with estimates ranging from $3.61 billion to $3.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for KAR Auction Services.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The company had revenue of $843.00 million for the quarter, compared to analyst estimates of $846.42 million. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. KAR Auction Services’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share.

Several brokerages have weighed in on KAR. Stephens set a $57.00 target price on shares of KAR Auction Services and gave the company a “hold” rating in a research note on Wednesday, January 17th. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, November 8th. Gabelli downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. KAR Auction Services has an average rating of “Buy” and an average target price of $54.60.

In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total value of $481,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa A. Price sold 6,563 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $54.05, for a total transaction of $354,730.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,563 shares of company stock valued at $1,929,930. 1.30% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of KAR. Prudential Financial Inc. lifted its stake in shares of KAR Auction Services by 12.5% during the second quarter. Prudential Financial Inc. now owns 7,220 shares of the specialty retailer’s stock worth $303,000 after buying an additional 800 shares during the period. Alliancebernstein L.P. lifted its stake in shares of KAR Auction Services by 0.9% during the second quarter. Alliancebernstein L.P. now owns 82,402 shares of the specialty retailer’s stock worth $3,458,000 after buying an additional 708 shares during the period. Teachers Advisors LLC lifted its stake in shares of KAR Auction Services by 39.7% during the second quarter. Teachers Advisors LLC now owns 198,401 shares of the specialty retailer’s stock worth $8,327,000 after buying an additional 56,425 shares during the period. Nationwide Fund Advisors lifted its stake in shares of KAR Auction Services by 27.6% during the second quarter. Nationwide Fund Advisors now owns 66,325 shares of the specialty retailer’s stock worth $2,784,000 after buying an additional 14,352 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of KAR Auction Services by 1.9% during the second quarter. BlackRock Inc. now owns 5,726,037 shares of the specialty retailer’s stock worth $240,320,000 after buying an additional 107,601 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Shares of KAR Auction Services (NYSE:KAR) traded down $0.42 on Thursday, reaching $54.39. 620,749 shares of the company’s stock traded hands, compared to its average volume of 691,552. The firm has a market capitalization of $7,457.15, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08. KAR Auction Services has a 52 week low of $40.27 and a 52 week high of $55.19. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90.

WARNING: This story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another website, it was stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/14/zacks-analysts-expect-kar-auction-services-inc-kar-will-announce-quarterly-sales-of-885-49-million.html.

About KAR Auction Services

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Get a free copy of the Zacks research report on KAR Auction Services (KAR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply