FY2017 EPS Estimates for KAR Auction Services, Inc Lifted by Analyst (KAR)
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.
WARNING: This piece was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/11/02/fy2017-eps-estimates-for-kar-auction-services-inc-lifted-by-analyst-kar.html.
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).
Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.