KAR Auction Services, Inc (NYSE:KAR) – Equities research analysts at Barrington Research increased their FY2017 EPS estimates for KAR Auction Services in a note issued to investors on Thursday. Barrington Research analyst G. Prestopino now anticipates that the specialty retailer will post earnings per share of $2.35 for the year, up from their previous estimate of $2.30. Barrington Research also issued estimates for KAR Auction Services’ Q4 2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $2.58 EPS.

Several other analysts have also commented on KAR. Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a report on Thursday, November 2nd. Zacks Investment Research lowered KAR Auction Services from a “buy” rating to a “hold” rating in a report on Monday, October 30th. J P Morgan Chase & Co increased their price objective on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. BidaskClub lowered KAR Auction Services from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a report on Tuesday, September 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. KAR Auction Services presently has a consensus rating of “Buy” and a consensus price target of $51.80.

ILLEGAL ACTIVITY NOTICE: This piece was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.watchlistnews.com/kar-auction-services-inc-to-post-fy2017-earnings-of-2-35-per-share-barrington-research-forecasts-kar/1684367.html.

Shares of KAR Auction Services (KAR) opened at $49.26 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $6,561.70, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. KAR Auction Services has a twelve month low of $38.16 and a twelve month high of $49.04.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $843.00 million during the quarter, compared to analyst estimates of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. KAR Auction Services’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share.

A number of hedge funds have recently modified their holdings of KAR. BlackRock Inc. raised its stake in KAR Auction Services by 20,047.2% in the 1st quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock worth $245,357,000 after acquiring an additional 5,590,549 shares during the last quarter. Janus Henderson Group PLC purchased a new position in KAR Auction Services in the 2nd quarter worth $69,833,000. Bessemer Group Inc. raised its stake in KAR Auction Services by 43.0% in the 2nd quarter. Bessemer Group Inc. now owns 3,115,698 shares of the specialty retailer’s stock worth $130,767,000 after acquiring an additional 937,368 shares during the last quarter. Principal Financial Group Inc. raised its stake in KAR Auction Services by 18.6% in the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock worth $246,255,000 after acquiring an additional 918,735 shares during the last quarter. Finally, River Road Asset Management LLC purchased a new position in KAR Auction Services in the 2nd quarter worth $37,096,000. Institutional investors own 99.58% of the company’s stock.

In related news, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total value of $436,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Tuesday, December 19th. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s dividend payout ratio is currently 75.29%.

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).

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

Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.