KAR Auction Services Inc Forecasted to Earn Q4 2018 Earnings of $0.63 Per Share (KAR)

KAR Auction Services Inc (NYSE:KAR) – Investment analysts at Northcoast Research lowered their Q4 2018 earnings per share (EPS) estimates for shares of KAR Auction Services in a research report issued on Wednesday, November 7th. Northcoast Research analyst J. Healy now anticipates that the specialty retailer will earn $0.63 per share for the quarter, down from their previous forecast of $0.66.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). KAR Auction Services had a net margin of 11.62% and a return on equity of 26.74%. The firm had revenue of $933.50 million during the quarter, compared to the consensus estimate of $910.43 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

Several other brokerages also recently commented on KAR. Stephens reaffirmed a “hold” rating and issued a $60.00 target price on shares of KAR Auction Services in a research note on Thursday, August 9th. Robert W. Baird upped their target price on shares of KAR Auction Services from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Gabelli downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. They noted that the move was a valuation call. Finally, SunTrust Banks set a $70.00 target price on shares of KAR Auction Services and gave the company a “buy” rating in a research note on Thursday, August 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. KAR Auction Services has an average rating of “Buy” and an average price target of $65.29.

Shares of NYSE:KAR opened at $56.54 on Friday. KAR Auction Services has a 52 week low of $47.43 and a 52 week high of $64.55. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.73 and a beta of 1.08.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, December 19th. KAR Auction Services’s dividend payout ratio is 56.00%.

In other news, EVP Benjamin Skuy sold 59,560 shares of the stock in a transaction on Friday, August 31st. The shares were sold at an average price of $62.74, for a total transaction of $3,736,794.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $61.53, for a total transaction of $615,300.00. The disclosure for this sale can be found here. Insiders have sold 127,560 shares of company stock valued at $7,978,854 in the last three months. 1.29% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Strs Ohio increased its position in shares of KAR Auction Services by 11.9% during the third quarter. Strs Ohio now owns 9,517 shares of the specialty retailer’s stock worth $568,000 after acquiring an additional 1,011 shares in the last quarter. Legal & General Group Plc increased its position in shares of KAR Auction Services by 1.1% during the second quarter. Legal & General Group Plc now owns 97,305 shares of the specialty retailer’s stock worth $5,333,000 after acquiring an additional 1,013 shares in the last quarter. Kendall Capital Management increased its position in shares of KAR Auction Services by 8.4% during the third quarter. Kendall Capital Management now owns 13,990 shares of the specialty retailer’s stock worth $835,000 after acquiring an additional 1,090 shares in the last quarter. Brookstone Capital Management increased its position in shares of KAR Auction Services by 15.2% during the third quarter. Brookstone Capital Management now owns 11,054 shares of the specialty retailer’s stock worth $660,000 after acquiring an additional 1,462 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of KAR Auction Services by 2.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,341 shares of the specialty retailer’s stock worth $3,363,000 after acquiring an additional 1,602 shares in the last quarter. 99.24% of the stock is owned by institutional investors.

KAR Auction Services Company Profile

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

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