Brokerages Anticipate KAR Auction Services, Inc (KAR) Will Post Earnings of $0.52 Per Share

Analysts expect KAR Auction Services, Inc (NYSE:KAR) to post earnings of $0.52 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for KAR Auction Services’ earnings, with estimates ranging from $0.50 to $0.55. KAR Auction Services posted earnings per share of $0.45 during the same quarter last year, which indicates a positive year over year growth rate of 15.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that KAR Auction Services will report full-year earnings of $2.36 per share for the current fiscal year, with EPS estimates ranging from $2.35 to $2.40. For the next fiscal year, analysts forecast that the business will post earnings of $2.55 per share, with EPS estimates ranging from $2.40 to $2.69. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover KAR Auction Services.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The business had revenue of $843.00 million during the quarter, compared to the consensus estimate of $846.42 million. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis.

A number of brokerages have recently commented on KAR. J P Morgan Chase & Co boosted their price objective on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, November 8th. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Thursday, November 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $50.00 price target on shares of KAR Auction Services in a report on Tuesday, September 12th. Finally, Stephens downgraded KAR Auction Services from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $51.00 to $48.00 in a report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. KAR Auction Services currently has an average rating of “Buy” and an average target price of $52.20.

Shares of KAR Auction Services (KAR) traded up $0.09 during trading on Friday, hitting $50.74. The stock had a trading volume of 852,300 shares, compared to its average volume of 949,784. KAR Auction Services has a 1-year low of $40.27 and a 1-year high of $51.01. The firm has a market capitalization of $6,851.17, a P/E ratio of 22.12, a PEG ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.35 and a current ratio of 1.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.76%. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 19th. KAR Auction Services’s dividend payout ratio is 75.29%.

In other news, EVP Benjamin Skuy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total value of $481,400.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Archford Capital Strategies LLC boosted its holdings in shares of KAR Auction Services by 832.0% in the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after acquiring an additional 832 shares during the period. Acrospire Investment Management LLC acquired a new stake in shares of KAR Auction Services in the second quarter valued at approximately $118,000. KBC Group NV boosted its holdings in shares of KAR Auction Services by 81.5% in the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock valued at $129,000 after acquiring an additional 1,211 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of KAR Auction Services by 105.6% in the second quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after acquiring an additional 2,087 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of KAR Auction Services by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock valued at $177,000 after acquiring an additional 363 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

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

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