KAR Auction Services (KAR) Releases FY18 Earnings Guidance
KAR Auction Services (NYSE:KAR) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.89-3.04 for the period, compared to the Thomson Reuters consensus estimate of $2.99.
A number of brokerages have commented on KAR. Zacks Investment Research upgraded KAR Auction Services from a hold rating to a buy rating and set a $67.00 price target for the company in a research report on Tuesday. Barrington Research restated a buy rating on shares of KAR Auction Services in a research report on Monday. ValuEngine upgraded KAR Auction Services from a hold rating to a buy rating in a research report on Thursday, July 5th. Finally, Guggenheim began coverage on KAR Auction Services in a research report on Tuesday, April 17th. They issued a neutral rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. KAR Auction Services currently has an average rating of Buy and an average price target of $59.56.
Shares of KAR opened at $60.84 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 1.64 and a beta of 1.06. KAR Auction Services has a 52 week low of $42.03 and a 52 week high of $61.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Thursday, September 20th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is 56.00%.
In other news, insider Rebecca C. Polak sold 44,240 shares of the company’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $55.05, for a total value of $2,435,412.00. Following the completion of the transaction, the insider now owns 90,630 shares of the company’s stock, valued at $4,989,181.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rebecca C. Polak sold 39,589 shares of the company’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $55.20, for a total value of $2,185,312.80. Following the completion of the transaction, the insider now directly owns 51,041 shares of the company’s stock, valued at approximately $2,817,463.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,018 shares of company stock valued at $9,472,886. Corporate insiders own 1.29% of the company’s stock.
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.
See Also: Earnings Per Share (EPS) Explained
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