FY2017 EPS Estimates for KAR Auction Services Inc (KAR) Raised by Analyst

KAR Auction Services Inc (NYSE:KAR) – Equities research analysts at Northcoast Research upped their FY2017 earnings per share estimates for KAR Auction Services in a report released on Thursday. Northcoast Research analyst J. Healy now expects that the specialty retailer will post earnings of $2.38 per share for the year, up from their prior estimate of $2.35. Northcoast Research also issued estimates for KAR Auction Services’ Q4 2017 earnings at $0.53 EPS, Q1 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.68 EPS, FY2018 earnings at $2.89 EPS and FY2019 earnings at $3.16 EPS.

A number of other equities research analysts also recently weighed in on KAR. JPMorgan Chase & Co. lifted their target price on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research report on Thursday, November 2nd. Finally, Stephens set a $57.00 target price on KAR Auction Services and gave the stock a “hold” rating in a research report on Wednesday, January 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. KAR Auction Services presently has a consensus rating of “Buy” and a consensus price target of $54.60.

Shares of KAR Auction Services (NYSE:KAR) opened at $54.35 on Monday. The stock has a market capitalization of $7,350.00, a PE ratio of 31.97, a PEG ratio of 1.56 and a beta of 1.08. KAR Auction Services has a 1 year low of $40.27 and a 1 year high of $54.36. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The company had revenue of $843.00 million for the quarter, compared to the consensus estimate of $846.42 million. KAR Auction Services had a return on equity of 17.59% and a net margin of 7.45%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KAR. Janus Henderson Group PLC bought a new position in shares of KAR Auction Services in the second quarter valued at approximately $69,833,000. Thompson Siegel & Walmsley LLC raised its stake in shares of KAR Auction Services by 139,965.7% in the third quarter. Thompson Siegel & Walmsley LLC now owns 588,276 shares of the specialty retailer’s stock valued at $28,084,000 after acquiring an additional 587,856 shares during the last quarter. Reinhart Partners Inc. bought a new position in shares of KAR Auction Services in the third quarter valued at approximately $25,515,000. Balyasny Asset Management LLC raised its stake in shares of KAR Auction Services by 3,793.5% in the second quarter. Balyasny Asset Management LLC now owns 467,415 shares of the specialty retailer’s stock valued at $19,617,000 after acquiring an additional 455,410 shares during the last quarter. Finally, River Road Asset Management LLC raised its stake in shares of KAR Auction Services by 43.4% in the third quarter. River Road Asset Management LLC now owns 1,267,728 shares of the specialty retailer’s stock valued at $60,521,000 after acquiring an additional 383,850 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors.

In other KAR Auction Services news, EVP Benjamin Skuy sold 12,000 shares of KAR Auction Services stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total transaction of $582,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa A. Price sold 10,000 shares of KAR Auction Services stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $51.18, for a total value of $511,800.00. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $1,575,200 over the last ninety days. Company insiders own 1.30% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.58%. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, December 19th. KAR Auction Services’s payout ratio is presently 82.35%.

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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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