KAR Auction Services (NYSE:KAR) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.89-3.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.71.
KAR Auction Services (NYSE KAR) opened at $50.49 on Wednesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35. KAR Auction Services has a 1 year low of $40.27 and a 1 year high of $55.19. The company has a market cap of $7,036.48, a P/E ratio of 22.72, a PEG ratio of 1.78 and a beta of 1.10.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. The company had revenue of $890.40 million during the quarter, compared to analyst estimates of $882.22 million. During the same period last year, the business earned $0.45 earnings per share. KAR Auction Services’s revenue was up 9.4% compared to the same quarter last year. analysts predict that KAR Auction Services will post 2.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Thursday, March 22nd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.77%. KAR Auction Services’s dividend payout ratio (DPR) is currently 82.35%.
A number of equities analysts have recently commented on KAR shares. Zacks Investment Research lowered shares of KAR Auction Services from a buy rating to a hold rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. raised their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an overweight rating in a research report on Monday, October 30th. Stephens set a $57.00 target price on shares of KAR Auction Services and gave the company a hold rating in a research report on Wednesday, January 17th. Finally, Gabelli lowered 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 report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $54.40.
In other KAR Auction Services news, EVP Lisa A. Price sold 10,000 shares of KAR Auction Services stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $51.18, for a total transaction of $511,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.
An institutional investor recently raised its position in KAR Auction Services stock. The Manufacturers Life Insurance Company raised its stake in shares of KAR Auction Services Inc (NYSE:KAR) by 9.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,210 shares of the specialty retailer’s stock after purchasing an additional 363 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in KAR Auction Services were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 97.65% of the stock is currently owned by institutional investors.
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KAR Auction Services Company Profile
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).
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