Q3 2017 Earnings Forecast for KAR Auction Services, Inc (KAR) Issued By Northcoast Research
KAR Auction Services, Inc (NYSE:KAR) – Stock analysts at Northcoast Research upped their Q3 2017 earnings per share (EPS) estimates for shares of KAR Auction Services in a research report issued to clients and investors on Wednesday. Northcoast Research analyst J. Healy now forecasts that the specialty retailer will post earnings per share of $0.51 for the quarter, up from their prior estimate of $0.43. Northcoast Research also issued estimates for KAR Auction Services’ Q4 2017 earnings at $0.47 EPS.
A number of other equities analysts have also recently commented on KAR. Jefferies Group LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a report on Tuesday. Stephens cut shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $51.00 to $48.00 in a research note on Thursday, September 7th. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Gabelli began coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They set a “buy” rating and a $62.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.75.
KAR Auction Services (KAR) opened at 45.81 on Friday. KAR Auction Services has a 52 week low of $38.16 and a 52 week high of $47.03. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 28.10 and a beta of 1.10. The firm’s 50-day moving average is $43.89 and its 200-day moving average is $43.30.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The firm had revenue of $858.00 million during the quarter, compared to analyst estimates of $850.67 million. During the same quarter in the previous year, the business posted $0.55 EPS. KAR Auction Services’s revenue was up 8.8% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 78.53%.
In other news, CEO John W. Kett sold 10,011 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total transaction of $420,562.11. Following the completion of the transaction, the chief executive officer now directly owns 65,982 shares in the company, valued at approximately $2,771,903.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $43.68, for a total value of $436,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,039 shares of company stock valued at $1,279,186. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC lifted its stake in KAR Auction Services by 832.0% during the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 832 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in KAR Auction Services in the second quarter worth $118,000. Toronto Dominion Bank increased its position in KAR Auction Services by 7.2% in the first quarter. Toronto Dominion Bank now owns 2,830 shares of the specialty retailer’s stock worth $124,000 after buying an additional 190 shares during the period. Tower Research Capital LLC TRC increased its position in KAR Auction Services by 378.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock worth $130,000 after buying an additional 2,346 shares during the period. Finally, CENTRAL TRUST Co acquired a new stake in KAR Auction Services in the second quarter worth $150,000. Institutional investors own 99.95% of the company’s stock.
About KAR Auction Services
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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