KAR Auction Services, Inc to Post FY2017 Earnings of $2.35 Per Share, Barrington Research Forecasts (KAR)
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.
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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).
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