$0.51 EPS Expected for KAR Auction Services, Inc (KAR) This Quarter
Equities analysts predict that KAR Auction Services, Inc (NYSE:KAR) will post earnings per share of $0.51 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for KAR Auction Services’ earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.43. KAR Auction Services reported earnings per share of $0.50 during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The company is expected to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that KAR Auction Services will report full-year earnings of $2.22 per share for the current year, with EPS estimates ranging from $2.15 to $2.25. For the next fiscal year, analysts forecast that the firm will report earnings of $2.47 per share, with EPS estimates ranging from $2.35 to $2.65. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for KAR Auction Services.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The business had revenue of $858 million during the quarter, compared to the consensus estimate of $850.67 million. KAR Auction Services had a return on equity of 21.56% and a net margin of 6.83%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS.
A number of research firms have issued reports on KAR. BidaskClub raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research cut KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Gabelli initiated coverage on KAR Auction Services in a research note on Tuesday, July 4th. They set a “buy” rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.33.
Shares of KAR Auction Services (KAR) traded up 1.15% during mid-day trading on Friday, reaching $43.04. The company’s stock had a trading volume of 1,284,885 shares. The company’s 50-day moving average is $41.64 and its 200 day moving average is $43.44. The firm has a market capitalization of $5.86 billion, a P/E ratio of 26.40 and a beta of 1.12. KAR Auction Services has a 1-year low of $38.16 and a 1-year high of $47.03.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is 78.53%.
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In other news, CEO John W. Kett sold 10,008 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.06, for a total transaction of $420,936.48. Following the completion of the transaction, the chief executive officer now directly owns 58,941 shares of the company’s stock, valued at $2,479,058.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Kett sold 9,913 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $43.92, for a total value of $435,378.96. Following the transaction, the chief executive officer now directly owns 51,805 shares of the company’s stock, valued at $2,275,275.60. The disclosure for this sale can be found here. Insiders have sold 29,932 shares of company stock worth $1,276,878 in the last 90 days. 1.30% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of KAR. BlackRock Inc. raised its position in shares of KAR Auction Services by 20,047.2% in the first quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock worth $245,357,000 after buying an additional 5,590,549 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of KAR Auction Services during the first quarter worth about $71,664,000. Marshall Wace North America L.P. acquired a new position in shares of KAR Auction Services during the first quarter worth about $71,664,000. FMR LLC raised its position in shares of KAR Auction Services by 9.7% in the first quarter. FMR LLC now owns 16,076,350 shares of the specialty retailer’s stock worth $702,054,000 after buying an additional 1,421,328 shares during the period. Finally, Janus Capital Management LLC raised its position in shares of KAR Auction Services by 479.1% in the first quarter. Janus Capital Management LLC now owns 1,348,178 shares of the specialty retailer’s stock worth $58,875,000 after buying an additional 1,115,378 shares during the period.
About KAR Auction Services
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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