KAR Auction Services, Inc (KAR) to Release Quarterly Earnings on Tuesday
KAR Auction Services, Inc (NYSE:KAR) will be issuing its quarterly earnings data after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.51 per share for the quarter. KAR Auction Services has set its FY17 guidance at $2.15-2.25 EPS.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The company had revenue of $858.00 million for the quarter, compared to analyst estimates of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, analysts expect KAR Auction Services to post $2.25 EPS for the current fiscal year and $2.48 EPS for the next fiscal year.
Shares of KAR Auction Services, Inc (KAR) traded down 0.78% during trading on Tuesday, reaching $47.17. 454,364 shares of the company’s stock traded hands. KAR Auction Services, Inc has a 1-year low of $38.16 and a 1-year high of $48.65. The stock has a market capitalization of $6.48 billion, a PE ratio of 28.94 and a beta of 1.07. The company has a 50 day moving average price of $46.83 and a 200 day moving average price of $43.87.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Tuesday, September 19th. KAR Auction Services’s payout ratio is 78.53%.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub lowered KAR Auction Services from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Gabelli assumed coverage on KAR Auction Services in a research report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a research report on Tuesday, September 12th. Finally, Stephens lowered KAR Auction Services from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $51.00 to $48.00 in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. KAR Auction Services has an average rating of “Buy” and an average price target of $53.50.
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In other news, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total value of $436,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Kett sold 10,011 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the sale, the chief executive officer now owns 65,982 shares of the company’s stock, valued at $2,771,903.82. The disclosure for this sale can be found here. Insiders sold a total of 20,031 shares of company stock valued at $858,249 over the last quarter. Company insiders own 1.30% of the company’s stock.
A hedge fund recently raised its stake in KAR Auction Services stock. The Manufacturers Life Insurance Company lifted its holdings in KAR Auction Services, Inc (NYSE:KAR) by 9.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,210 shares of the specialty retailer’s stock after purchasing an additional 363 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in KAR Auction Services were worth $177,000 as of its most recent filing with the SEC. 99.02% of the stock is currently owned by institutional investors and hedge funds.
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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