Wall Street brokerages forecast that KAR Auction Services Inc (NYSE:KAR) will report $0.39 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for KAR Auction Services’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.40. KAR Auction Services reported earnings of $0.70 per share in the same quarter last year, which indicates a negative year over year growth rate of 44.3%. The firm is expected to report its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that KAR Auction Services will report full-year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.16 to $1.30. For the next financial year, analysts expect that the company will post earnings of $1.52 per share, with EPS estimates ranging from $1.34 to $1.65. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow KAR Auction Services.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, August 6th. The specialty retailer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). KAR Auction Services had a return on equity of 19.93% and a net margin of 7.67%. The business had revenue of $719.00 million during the quarter, compared to analysts’ expectations of $692.00 million. During the same period last year, the firm posted $0.82 EPS. KAR Auction Services’s quarterly revenue was up 15.4% compared to the same quarter last year.

A number of brokerages have weighed in on KAR. Barrington Research reissued a “buy” rating and issued a $42.50 target price on shares of KAR Auction Services in a research report on Friday, June 28th. SunTrust Banks decreased their target price on KAR Auction Services from $65.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, July 1st. JPMorgan Chase & Co. lowered KAR Auction Services from an “overweight” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Monday, July 1st. Robert W. Baird began coverage on KAR Auction Services in a research report on Friday, June 28th. They issued an “outperform” rating for the company. Finally, ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. KAR Auction Services presently has an average rating of “Hold” and a consensus target price of $39.58.

NYSE:KAR traded up $0.26 during mid-day trading on Tuesday, reaching $26.41. The company’s stock had a trading volume of 2,438,548 shares, compared to its average volume of 3,700,918. KAR Auction Services has a 12-month low of $16.41 and a 12-month high of $28.61. The firm’s fifty day moving average price is $25.83 and its two-hundred day moving average price is $42.87. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.00. The stock has a market cap of $3.52 billion, a P/E ratio of 8.92, a PEG ratio of 1.47 and a beta of 1.09.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 20th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 19th. KAR Auction Services’s payout ratio is currently 47.30%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KAR. Maverick Capital Ltd. purchased a new stake in shares of KAR Auction Services during the 2nd quarter valued at about $126,648,000. BlackRock Inc. increased its position in shares of KAR Auction Services by 46.2% during the 1st quarter. BlackRock Inc. now owns 10,730,329 shares of the specialty retailer’s stock valued at $550,575,000 after purchasing an additional 3,392,759 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of KAR Auction Services by 42.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,664,232 shares of the specialty retailer’s stock valued at $141,606,000 after purchasing an additional 1,676,914 shares during the last quarter. Scopia Capital Management LP increased its position in shares of KAR Auction Services by 143.9% during the 2nd quarter. Scopia Capital Management LP now owns 2,565,615 shares of the specialty retailer’s stock valued at $64,140,000 after purchasing an additional 1,513,721 shares during the last quarter. Finally, New Mountain Vantage Advisers L.L.C. bought a new position in shares of KAR Auction Services during the 2nd quarter valued at approximately $37,655,000.

KAR Auction Services Company Profile

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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