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 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.
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