Equities research analysts predict that KAR Auction Services Inc (NYSE:KAR) will post $661.45 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for KAR Auction Services’ earnings, with estimates ranging from $635.60 million to $677.63 million. KAR Auction Services reported sales of $929.00 million during the same quarter last year, which indicates a negative year over year growth rate of 28.8%. The company is expected to announce its next earnings report on Tuesday, February 18th.
According to Zacks, analysts expect that KAR Auction Services will report full year sales of $2.77 billion for the current year, with estimates ranging from $2.75 billion to $2.79 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.90 billion, with estimates ranging from $2.83 billion to $2.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for KAR Auction Services.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). KAR Auction Services had a net margin of 6.95% and a return on equity of 16.67%. The firm had revenue of $701.90 million during the quarter, compared to analyst estimates of $697.46 million. During the same period in the prior year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year.
A number of brokerages recently issued reports on KAR. ValuEngine raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, CJS Securities lowered KAR Auction Services from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.58.
In related news, insider Phillips Bruce purchased 500,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $1.04 per share, with a total value of $518,500.00. Also, Director Mark E. Hill purchased 18,500 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $397,750.00. Following the transaction, the director now directly owns 48,200 shares in the company, valued at $1,036,300. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. Arlington Partners LLC boosted its stake in shares of KAR Auction Services by 64.7% during the 3rd quarter. Arlington Partners LLC now owns 1,400 shares of the specialty retailer’s stock worth $34,000 after acquiring an additional 550 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of KAR Auction Services by 78.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,450 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 639 shares during the period. Captrust Financial Advisors bought a new position in shares of KAR Auction Services during the 2nd quarter worth approximately $42,000. Crewe Advisors LLC boosted its stake in shares of KAR Auction Services by 114.9% during the 3rd quarter. Crewe Advisors LLC now owns 1,870 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 1,000 shares during the period. Finally, Baskin Financial Services Inc. bought a new position in shares of KAR Auction Services during the 2nd quarter worth approximately $260,000. 99.40% of the stock is currently owned by hedge funds and other institutional investors.
KAR Auction Services stock traded down $0.27 during midday trading on Wednesday, reaching $20.85. The stock had a trading volume of 2,288,508 shares, compared to its average volume of 3,509,760. The firm’s fifty day simple moving average is $23.36 and its 200-day simple moving average is $32.18. KAR Auction Services has a 1-year low of $16.41 and a 1-year high of $28.61. The stock has a market capitalization of $2.72 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 1.26 and a beta of 0.96. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.29 and a current ratio of 1.29.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Thursday, December 19th. KAR Auction Services’s dividend payout ratio (DPR) is 25.68%.
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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