KAR Auction Services Inc (NYSE:KAR) – Investment analysts at Northcoast Research upped their Q3 2019 EPS estimates for KAR Auction Services in a research note issued to investors on Thursday, August 8th. Northcoast Research analyst J. Healy now expects that the specialty retailer will post earnings per share of $0.40 for the quarter, up from their previous estimate of $0.33. Northcoast Research also issued estimates for KAR Auction Services’ Q4 2019 earnings at $0.30 EPS.

KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, August 6th. The specialty retailer reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). The firm had revenue of $719.00 million during the quarter, compared to the consensus estimate of $692.00 million. KAR Auction Services had a net margin of 7.67% and a return on equity of 20.73%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS.

KAR has been the topic of a number of other research reports. Barrington Research reissued a “buy” rating and issued a $42.50 target price on shares of KAR Auction Services in a research note on Friday, June 28th. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Robert W. Baird initiated coverage on KAR Auction Services in a research note on Friday, June 28th. They issued an “outperform” rating on the stock. SunTrust Banks reduced their target price on KAR Auction Services from $65.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Finally, Guggenheim cut KAR Auction Services from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $39.58.

KAR opened at $24.63 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of 8.32, a PEG ratio of 1.28 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.38. KAR Auction Services has a 52 week low of $16.41 and a 52 week high of $27.15. The company has a fifty day moving average price of $30.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of KAR. Motco boosted its position in KAR Auction Services by 1,732.4% during the first quarter. Motco now owns 623 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 589 shares during the period. Cornerstone Advisors Inc. purchased a new stake in KAR Auction Services during the first quarter valued at about $46,000. FTB Advisors Inc. boosted its position in KAR Auction Services by 75.9% during the first quarter. FTB Advisors Inc. now owns 1,038 shares of the specialty retailer’s stock valued at $53,000 after buying an additional 448 shares during the period. Icon Wealth Partners LLC purchased a new stake in KAR Auction Services during the first quarter valued at about $57,000. Finally, Quadrant Capital Group LLC boosted its position in KAR Auction Services by 2,902.5% during the first quarter. Quadrant Capital Group LLC now owns 1,201 shares of the specialty retailer’s stock valued at $61,000 after buying an additional 1,161 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 20th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.76 annualized dividend and a yield of 3.09%. KAR Auction Services’s payout ratio is 47.30%.

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

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