Karooooo (NASDAQ:KARO) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Karooooo (NASDAQ:KARO) announced its quarterly earnings data on Wednesday. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08, FiscalAI reports. The business had revenue of $96.26 million for the quarter. Karooooo had a return on equity of 31.26% and a net margin of 18.07%. Karooooo updated its FY 2027 guidance to 2.334-2.425 EPS.

Karooooo Stock Up 1.2%

Shares of NASDAQ:KARO opened at $58.58 on Thursday. The firm has a fifty day moving average price of $49.60 and a two-hundred day moving average price of $48.59. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 31.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.06 and a quick ratio of 1.05. Karooooo has a one year low of $41.25 and a one year high of $60.53.

Karooooo Increases Dividend

The company also recently announced an annual dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, July 17th will be paid a $1.50 dividend. The ex-dividend date is Friday, July 17th. This represents a yield of 347.0%. This is a boost from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio is currently 81.08%.

Institutional Investors Weigh In On Karooooo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capricorn Fund Managers Ltd grew its position in Karooooo by 39.4% during the fourth quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock worth $10,833,000 after buying an additional 67,322 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Karooooo by 699.1% in the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock valued at $2,723,000 after acquiring an additional 48,644 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Karooooo by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after acquiring an additional 39,709 shares in the last quarter. Aurora Investment Counsel bought a new stake in shares of Karooooo during the 4th quarter valued at about $1,651,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Karooooo during the 2nd quarter valued at about $1,378,000.

Analyst Upgrades and Downgrades

KARO has been the subject of a number of research reports. Wall Street Zen lowered shares of Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Roth Capital restated a “buy” rating and set a $68.00 price target on shares of Karooooo in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Needham & Company LLC lifted their price objective on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Zacks Research raised shares of Karooooo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $63.25.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.