KAR Auction Services, Inc (NYSE:KAR) – Investment analysts at Northcoast Research upped their FY2017 earnings estimates for KAR Auction Services in a research note issued to investors on Wednesday. Northcoast Research analyst J. Healy now forecasts that the specialty retailer will earn $2.35 per share for the year, up from their previous forecast of $2.25. Northcoast Research also issued estimates for KAR Auction Services’ Q4 2017 earnings at $0.51 EPS and FY2018 earnings at $2.69 EPS.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.26%. The firm had revenue of $843.00 million for the quarter, compared to the consensus estimate of $846.42 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis.

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Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Wednesday. J P Morgan Chase & Co upped their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Group LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a report on Tuesday, September 12th. Stephens downgraded shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $51.00 to $48.00 in a report on Thursday, September 7th. Finally, BidaskClub raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $53.60.

Hedge funds have recently made changes to their positions in the company. Archford Capital Strategies LLC raised its stake in shares of KAR Auction Services by 832.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 832 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of KAR Auction Services in the 2nd quarter valued at $118,000. CENTRAL TRUST Co acquired a new position in shares of KAR Auction Services in the 2nd quarter valued at $150,000. SG Americas Securities LLC acquired a new position in shares of KAR Auction Services in the 1st quarter valued at $162,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of KAR Auction Services by 105.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after buying an additional 2,087 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

In other news, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $43.68, for a total value of $436,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be paid a $0.35 dividend. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.96%. KAR Auction Services’s dividend payout ratio is currently 75.29%.

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).

Earnings History and Estimates for KAR Auction Services (NYSE:KAR)

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