Equities analysts expect that KAR Auction Services Inc (NYSE:KAR) will announce sales of $695.64 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for KAR Auction Services’ earnings, with the highest sales estimate coming in at $710.28 million and the lowest estimate coming in at $674.10 million. KAR Auction Services posted sales of $933.50 million in the same quarter last year, which would indicate a negative year over year growth rate of 25.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that KAR Auction Services will report full year sales of $2.78 billion for the current financial year, with estimates ranging from $2.73 billion to $2.80 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.92 billion, with estimates ranging from $2.86 billion to $3.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover KAR Auction Services.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, August 6th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). The firm had revenue of $719.00 million for the quarter, compared to analyst estimates of $692.00 million. KAR Auction Services had a net margin of 7.67% and a return on equity of 19.93%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS.
A number of brokerages have weighed in on KAR. JPMorgan Chase & Co. lowered shares of KAR Auction Services from an “overweight” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Monday, July 1st. ValuEngine lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Friday. Barrington Research reaffirmed a “buy” rating and issued a $42.50 price target on shares of KAR Auction Services in a research note on Friday, June 28th. Guggenheim lowered shares of KAR Auction Services from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised shares of KAR Auction Services from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $39.58.
KAR traded down $0.23 during trading on Thursday, reaching $25.40. The company had a trading volume of 19,399,553 shares, compared to its average volume of 2,118,125. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.14 and a quick ratio of 1.14. KAR Auction Services has a 12 month low of $16.41 and a 12 month high of $28.61. The business’s fifty day moving average price is $25.77 and its 200 day moving average price is $42.54. The company has a market cap of $3.42 billion, a P/E ratio of 8.58, a PEG ratio of 1.43 and a beta of 1.09.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 20th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, September 19th. KAR Auction Services’s payout ratio is currently 25.68%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Atria Investments LLC lifted its position in shares of KAR Auction Services by 113.2% in the second quarter. Atria Investments LLC now owns 19,001 shares of the specialty retailer’s stock worth $471,000 after purchasing an additional 10,088 shares in the last quarter. Colony Group LLC lifted its position in shares of KAR Auction Services by 6.3% in the second quarter. Colony Group LLC now owns 95,073 shares of the specialty retailer’s stock worth $2,377,000 after purchasing an additional 5,625 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in shares of KAR Auction Services in the second quarter worth $8,496,000. Maverick Capital Ltd. bought a new stake in shares of KAR Auction Services in the second quarter worth $126,648,000. Finally, Royal Bank of Canada lifted its position in shares of KAR Auction Services by 82.3% in the second quarter. Royal Bank of Canada now owns 190,239 shares of the specialty retailer’s stock worth $4,756,000 after purchasing an additional 85,860 shares in the last quarter.
About KAR Auction Services
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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