KAR Auction Services, Inc. (NYSE:KAR) – Analysts at Truist Securiti cut their Q3 2020 earnings per share estimates for shares of KAR Auction Services in a research note issued on Wednesday, October 14th. Truist Securiti analyst S. Benjamin now anticipates that the specialty retailer will earn $0.37 per share for the quarter, down from their previous estimate of $0.52. Truist Securiti also issued estimates for KAR Auction Services’ FY2020 earnings at $0.97 EPS, Q2 2021 earnings at $0.53 EPS, Q3 2021 earnings at $0.48 EPS, Q4 2021 earnings at $0.46 EPS and FY2021 earnings at $1.95 EPS.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 4th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.18. The business had revenue of $419.00 million for the quarter, compared to the consensus estimate of $420.08 million. KAR Auction Services had a net margin of 1.05% and a return on equity of 5.72%. KAR Auction Services’s quarterly revenue was down 41.7% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share.
KAR has been the topic of a number of other research reports. Stephens upgraded shares of KAR Auction Services from an “equal weight” rating to an “overweight” rating in a research note on Thursday, October 1st. Zacks Investment Research downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Wednesday. Northcoast Research upgraded shares of KAR Auction Services from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Thursday, August 13th. Finally, Barrington Research reiterated a “buy” rating on shares of KAR Auction Services in a research note on Friday, August 28th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.57.
Shares of KAR Auction Services stock opened at $16.96 on Friday. KAR Auction Services has a 1 year low of $9.41 and a 1 year high of $26.63. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.19. The company’s fifty day simple moving average is $16.10 and its 200-day simple moving average is $14.71. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 89.26, a PEG ratio of 3.79 and a beta of 1.52.
Large investors have recently modified their holdings of the company. Ameritas Investment Company LLC acquired a new stake in shares of KAR Auction Services in the 1st quarter valued at $26,000. Cerebellum GP LLC acquired a new stake in shares of KAR Auction Services in the 2nd quarter valued at $127,000. Twin Tree Management LP boosted its stake in shares of KAR Auction Services by 197.0% in the 2nd quarter. Twin Tree Management LP now owns 3,564 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,364 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of KAR Auction Services by 214.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,641 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 6,574 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of KAR Auction Services in the 2nd quarter valued at $138,000.
About KAR Auction Services
KAR Auction Services, Inc, together with its subsidiaries, used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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