KAR Auction Services, Inc (NYSE:KAR) – Analysts at Northcoast Research upped their FY2017 earnings estimates for shares of KAR Auction Services in a research note issued on Wednesday, according to Zacks Investment Research. Northcoast Research analyst J. Healy now forecasts that the specialty retailer will post earnings of $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 issued its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The firm had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $846.42 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “FY2017 Earnings Forecast for KAR Auction Services, Inc Issued By Northcoast Research (KAR)” was published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://stocknewstimes.com/2017/11/11/fy2017-eps-estimates-for-kar-auction-services-inc-lifted-by-analyst-kar.html.
A number of other research firms have also recently issued reports on KAR. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday. Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research note on Thursday, November 2nd. J P Morgan Chase & Co increased their target price on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 target price on shares of KAR Auction Services in a research note on Tuesday, September 12th. Finally, Stephens lowered KAR Auction Services from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $51.00 to $48.00 in a research note on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. KAR Auction Services presently has an average rating of “Buy” and a consensus target price of $52.20.
Shares of KAR Auction Services (KAR) opened at $48.49 on Thursday. KAR Auction Services has a 52-week low of $38.39 and a 52-week high of $49.38. The stock has a market capitalization of $6,538.71, a P/E ratio of 21.11, a PEG ratio of 1.52 and a beta of 1.08. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group boosted its holdings in shares of KAR Auction Services by 11.1% during the 3rd quarter. Schroder Investment Management Group now owns 3,033,008 shares of the specialty retailer’s stock valued at $142,612,000 after acquiring an additional 302,029 shares in the last quarter. Pegasus Partners Ltd. acquired a new stake in shares of KAR Auction Services during the 3rd quarter valued at $4,985,000. JPMorgan Chase & Co. boosted its holdings in shares of KAR Auction Services by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,147,425 shares of the specialty retailer’s stock valued at $100,972,000 after acquiring an additional 30,299 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of KAR Auction Services by 22.2% during the 3rd quarter. Legal & General Group Plc now owns 99,652 shares of the specialty retailer’s stock valued at $4,756,000 after acquiring an additional 18,100 shares in the last quarter. Finally, FNY Managed Accounts LLC acquired a new stake in shares of KAR Auction Services during the 3rd quarter valued at $992,000. 99.58% of the stock is currently owned by institutional investors.
In other news, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total value of $436,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.
The firm also recently declared 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 positive change from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 19th. This represents a $1.40 annualized dividend and a dividend yield of 2.89%. KAR Auction Services’s dividend payout ratio (DPR) is presently 75.29%.
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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