Equities research analysts forecast that KAR Auction Services Inc (NYSE:KAR) will announce earnings per share of $0.30 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for KAR Auction Services’ earnings. The highest EPS estimate is $0.52 and the lowest is $0.19. KAR Auction Services posted earnings of $0.35 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 14.3%. The business is scheduled to announce its next earnings report on Tuesday, November 3rd.
On average, analysts expect that KAR Auction Services will report full year earnings of $0.75 per share for the current financial year, with EPS estimates ranging from $0.60 to $1.13. For the next year, analysts expect that the business will post earnings of $1.34 per share, with EPS estimates ranging from $1.18 to $2.08. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow KAR Auction Services.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 4th. The specialty retailer reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.18. KAR Auction Services had a net margin of 1.05% and a return on equity of 5.72%. The company had revenue of $419.00 million for the quarter, compared to the consensus estimate of $420.08 million. During the same period in the prior year, the firm posted $0.30 EPS. KAR Auction Services’s revenue for the quarter was down 41.7% on a year-over-year basis.
A number of research analysts recently weighed in on KAR shares. SunTrust Banks raised their target price on shares of KAR Auction Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Barrington Research reissued a “buy” rating on shares of KAR Auction Services in a research note on Friday, August 28th. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, August 19th. Finally, Northcoast Research raised shares of KAR Auction Services from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday, August 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. KAR Auction Services currently has a consensus rating of “Hold” and a consensus price target of $20.57.
Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in KAR Auction Services by 10.2% during the first quarter. SG Americas Securities LLC now owns 10,335 shares of the specialty retailer’s stock worth $124,000 after buying an additional 957 shares during the period. Aperio Group LLC lifted its stake in shares of KAR Auction Services by 15.1% during the 1st quarter. Aperio Group LLC now owns 64,117 shares of the specialty retailer’s stock worth $769,000 after purchasing an additional 8,432 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in KAR Auction Services by 1.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 146,049 shares of the specialty retailer’s stock valued at $1,753,000 after purchasing an additional 1,472 shares in the last quarter. Bank of New York Mellon Corp grew its stake in KAR Auction Services by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 2,379,265 shares of the specialty retailer’s stock valued at $28,550,000 after purchasing an additional 105,585 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in KAR Auction Services by 81.9% in the first quarter. Russell Investments Group Ltd. now owns 822,244 shares of the specialty retailer’s stock worth $9,863,000 after purchasing an additional 370,139 shares in the last quarter.
Shares of KAR traded up $0.26 during mid-day trading on Wednesday, hitting $15.49. 54,847 shares of the stock were exchanged, compared to its average volume of 2,344,375. The company has a market cap of $1.97 billion, a PE ratio of 81.53, a price-to-earnings-growth ratio of 3.41 and a beta of 1.47. KAR Auction Services has a 52-week low of $9.41 and a 52-week high of $26.63. The firm has a 50-day moving average of $16.96 and a two-hundred day moving average of $14.87. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.62 and a current ratio of 1.62.
KAR Auction Services Company Profile
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, 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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