KAR Auction Services (KAR) Announces Quarterly Earnings Results

KAR Auction Services (NYSE:KAR) announced its earnings results on Tuesday. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03, Bloomberg Earnings reports. The business had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $936.37 million. KAR Auction Services had a return on equity of 26.50% and a net margin of 11.62%. KAR Auction Services updated its FY 2019 guidance to $2.90-3.09 EPS and its FY19 guidance to $2.90-3.09 EPS.

Shares of KAR Auction Services stock traded down $0.84 during trading on Wednesday, reaching $53.01. The company’s stock had a trading volume of 315,890 shares, compared to its average volume of 566,173. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.59 and a beta of 1.19. KAR Auction Services has a 1-year low of $45.36 and a 1-year high of $64.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 22nd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.64%. KAR Auction Services’s payout ratio is 56.00%.

Several institutional investors have recently bought and sold shares of KAR. Riverview Trust Co acquired a new stake in shares of KAR Auction Services in the 4th quarter worth $33,000. Private Capital Group LLC boosted its position in shares of KAR Auction Services by 32.8% in the 4th quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock worth $48,000 after purchasing an additional 245 shares in the last quarter. IFP Advisors Inc boosted its position in shares of KAR Auction Services by 13.4% in the 4th quarter. IFP Advisors Inc now owns 1,683 shares of the specialty retailer’s stock worth $79,000 after purchasing an additional 199 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of KAR Auction Services in the 3rd quarter worth $100,000. Finally, Rehmann Capital Advisory Group boosted its position in shares of KAR Auction Services by 9,598.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 6,207 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 6,143 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on KAR shares. Zacks Investment Research cut KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. ValuEngine raised KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Finally, Barrington Research set a $70.00 target price on KAR Auction Services and gave the company a “buy” rating in a research report on Monday, November 5th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $64.57.

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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.

Read More: Fundamental Analysis and Individual Investors

Earnings History for KAR Auction Services (NYSE:KAR)

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