Q2 2017 EPS Estimates for KAR Auction Services, Inc Lowered by Northcoast Research (NYSE:KAR)
KAR Auction Services, Inc (NYSE:KAR) – Stock analysts at Northcoast Research reduced their Q2 2017 EPS estimates for KAR Auction Services in a research note issued on Monday. Northcoast Research analyst J. Healy now anticipates that the specialty retailer will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.57.
A number of other research analysts have also recently weighed in on KAR. Gabelli assumed coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They set a “buy” rating and a $62.00 price objective on the stock. BidaskClub lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Finally, Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. KAR Auction Services currently has an average rating of “Buy” and an average target price of $53.25.
Shares of KAR Auction Services (KAR) opened at 40.59 on Tuesday. The stock has a 50 day moving average of $43.16 and a 200 day moving average of $43.92. The stock has a market capitalization of $5.57 billion, a PE ratio of 24.45 and a beta of 1.13. KAR Auction Services has a 52-week low of $38.16 and a 52-week high of $47.03.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, May 9th. The specialty retailer reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.04. The business had revenue of $866.60 million during the quarter, compared to analysts’ expectations of $848.73 million. KAR Auction Services had a net margin of 7.16% and a return on equity of 20.54%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS.
Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank purchased a new stake in KAR Auction Services during the fourth quarter valued at approximately $274,000. Envestnet Asset Management Inc. raised its stake in KAR Auction Services by 12.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,329 shares of the specialty retailer’s stock valued at $272,000 after buying an additional 715 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in KAR Auction Services during the fourth quarter valued at approximately $413,000. Guggenheim Capital LLC raised its stake in KAR Auction Services by 9.1% in the fourth quarter. Guggenheim Capital LLC now owns 17,582 shares of the specialty retailer’s stock valued at $749,000 after buying an additional 1,473 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in KAR Auction Services by 41.4% in the fourth quarter. AQR Capital Management LLC now owns 21,300 shares of the specialty retailer’s stock valued at $908,000 after buying an additional 6,232 shares during the last quarter.
In related news, COO Donald S. Gottwald sold 18,125 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $44.29, for a total value of $802,756.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Kett sold 9,913 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $43.92, for a total transaction of $435,378.96. Following the completion of the sale, the chief executive officer now directly owns 51,805 shares of the company’s stock, valued at $2,275,275.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,984 shares of company stock valued at $2,090,480. 1.30% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Wednesday, June 21st were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Monday, June 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 77.11%.
KAR Auction Services Company Profile
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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