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.
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%.
ILLEGAL ACTIVITY WARNING: “FY2017 EPS Estimates for KAR Auction Services Inc (KAR) Raised by Analyst” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/22/fy2017-eps-estimates-for-kar-auction-services-inc-kar-raised-by-analyst.html.
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).
Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.