Equities research analysts predict that KAR Auction Services Inc (NYSE:KAR) will announce earnings of $0.84 per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for KAR Auction Services’ earnings. The lowest EPS estimate is $0.80 and the highest is $0.88. KAR Auction Services posted earnings of $0.82 per share during the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 6th.
According to Zacks, analysts expect that KAR Auction Services will report full-year earnings of $2.94 per share for the current fiscal year, with EPS estimates ranging from $2.90 to $3.00. For the next year, analysts forecast that the company will report earnings of $3.22 per share, with EPS estimates ranging from $3.00 to $3.41. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for KAR Auction Services.
KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.07). KAR Auction Services had a return on equity of 25.43% and a net margin of 8.17%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.82 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year.
KAR has been the subject of several research analyst reports. Barrington Research restated a “buy” rating on shares of KAR Auction Services in a research note on Wednesday, February 20th. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. Finally, Robert W. Baird restated a “buy” rating and set a $56.00 price target on shares of KAR Auction Services in a research note on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $61.50.
A number of large investors have recently made changes to their positions in KAR. Motco increased its stake in KAR Auction Services by 1,732.4% during the first quarter. Motco now owns 623 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 589 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of KAR Auction Services in the fourth quarter valued at about $33,000. Arlington Partners LLC grew its stake in shares of KAR Auction Services by 70.0% in the first quarter. Arlington Partners LLC now owns 850 shares of the specialty retailer’s stock valued at $44,000 after buying an additional 350 shares in the last quarter. Cornerstone Advisors Inc. acquired a new stake in shares of KAR Auction Services in the first quarter valued at about $46,000. Finally, Private Capital Group LLC grew its stake in shares of KAR Auction Services by 32.8% in the fourth quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock valued at $48,000 after buying an additional 245 shares in the last quarter. Institutional investors own 97.59% of the company’s stock.
NYSE:KAR traded up $0.49 on Friday, hitting $56.49. 1,232,445 shares of the stock were exchanged, compared to its average volume of 1,543,588. The firm has a market capitalization of $7.53 billion, a PE ratio of 19.08, a P/E/G ratio of 1.96 and a beta of 1.14. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.17 and a quick ratio of 1.17. KAR Auction Services has a fifty-two week low of $43.32 and a fifty-two week high of $64.55.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, May 31st. This represents a $1.40 annualized dividend and a yield of 2.48%. KAR Auction Services’s dividend payout ratio is presently 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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