Analysts Anticipate KAR Auction Services Inc (KAR) to Announce $0.74 Earnings Per Share

Analysts predict that KAR Auction Services Inc (NYSE:KAR) will report $0.74 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for KAR Auction Services’ earnings, with estimates ranging from $0.70 to $0.78. KAR Auction Services posted earnings of $0.62 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 19.4%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that KAR Auction Services will report full year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.89 to $3.05. For the next financial year, analysts expect that the firm will post earnings of $3.32 per share, with EPS estimates ranging from $3.10 to $3.75. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow KAR Auction Services.

How to Become a New Pot Stock Millionaire

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The firm had revenue of $890.40 million for the quarter, compared to the consensus estimate of $882.22 million. KAR Auction Services had a net margin of 10.47% and a return on equity of 23.61%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS.

A number of analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of KAR Auction Services in a report on Tuesday. They set a “neutral” rating on the stock. Barrington Research reaffirmed a “buy” rating on shares of KAR Auction Services in a report on Wednesday, March 21st. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, February 7th. Gabelli raised shares of KAR Auction Services from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Bank of America raised their price target on shares of KAR Auction Services from $60.00 to $66.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $58.89.

In other news, EVP Lisa A. Price sold 2,188 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $54.00, for a total value of $118,152.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $54.96, for a total transaction of $549,600.00. The disclosure for this sale can be found here. Insiders sold a total of 56,188 shares of company stock worth $3,140,552 in the last quarter. Company insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of KAR. Millennium Management LLC raised its stake in KAR Auction Services by 157.0% during the 4th quarter. Millennium Management LLC now owns 1,391,785 shares of the specialty retailer’s stock worth $70,299,000 after acquiring an additional 850,204 shares during the period. BlackRock Inc. raised its stake in KAR Auction Services by 13.3% during the 4th quarter. BlackRock Inc. now owns 7,018,588 shares of the specialty retailer’s stock worth $354,508,000 after acquiring an additional 825,974 shares during the period. Goldman Sachs Group Inc. raised its stake in KAR Auction Services by 84.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,631,960 shares of the specialty retailer’s stock worth $82,430,000 after acquiring an additional 748,589 shares during the period. Gates Capital Management Inc. raised its stake in KAR Auction Services by 75.2% during the 4th quarter. Gates Capital Management Inc. now owns 1,501,057 shares of the specialty retailer’s stock worth $75,818,000 after acquiring an additional 644,093 shares during the period. Finally, Mawer Investment Management Ltd. raised its stake in KAR Auction Services by 72.1% during the 4th quarter. Mawer Investment Management Ltd. now owns 920,010 shares of the specialty retailer’s stock worth $46,470,000 after acquiring an additional 385,540 shares during the period. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Shares of NYSE KAR opened at $52.83 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.80. The stock has a market cap of $7,138.46, a PE ratio of 21.13, a P/E/G ratio of 1.63 and a beta of 1.11. KAR Auction Services has a 52-week low of $40.27 and a 52-week high of $56.75.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 4th. Stockholders of record on Thursday, March 22nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, March 21st. KAR Auction Services’s dividend payout ratio (DPR) is presently 56.00%.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/21/analysts-anticipate-kar-auction-services-inc-kar-to-announce-0-74-earnings-per-share.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

Earnings History and Estimates for KAR Auction Services (NYSE:KAR)

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