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.
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%.
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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).
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