Barrington Research Weighs in on KAR Auction Services, Inc’s FY2017 Earnings (NYSE:KAR)

KAR Auction Services, Inc (NYSE:KAR) – Investment analysts at Barrington Research lifted their FY2017 earnings per share estimates for shares of KAR Auction Services in a report issued on Thursday, Zacks Investment Research reports. Barrington Research analyst G. Prestopino now forecasts that the specialty retailer will post earnings of $2.35 per share for the year, up from their prior estimate of $2.30. Barrington Research also issued estimates for KAR Auction Services’ Q4 2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $2.58 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, topping the consensus estimate of $0.51 by $0.06. The company had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $846.42 million. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. KAR Auction Services’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 EPS. WARNING: This piece was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/11/21/barrington-research-weighs-in-on-kar-auction-services-incs-fy2017-earnings-kar.html.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Gabelli cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday, November 2nd. BidaskClub raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and set a $50.00 target price on shares of KAR Auction Services in a report on Tuesday, September 12th. Finally, J P Morgan Chase & Co upped their target price on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. KAR Auction Services presently has a consensus rating of “Buy” and an average target price of $52.20.

Shares of KAR Auction Services (KAR) traded up $0.33 during midday trading on Monday, reaching $48.28. 1,195,036 shares of the company were exchanged, compared to its average volume of 957,043. The company has a market cap of $6,500.00, a price-to-earnings ratio of 20.83, a PEG ratio of 1.50 and a beta of 1.08. KAR Auction Services has a 1-year low of $40.27 and a 1-year high of $49.38. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of KAR Auction Services by 20,047.2% during the first quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock worth $245,357,000 after purchasing an additional 5,590,549 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of KAR Auction Services during the 2nd quarter worth approximately $69,833,000. Bessemer Group Inc. raised its position in shares of KAR Auction Services by 43.0% during the 2nd quarter. Bessemer Group Inc. now owns 3,115,698 shares of the specialty retailer’s stock worth $130,767,000 after purchasing an additional 937,368 shares during the last quarter. Principal Financial Group Inc. raised its holdings in KAR Auction Services by 18.6% in the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock valued at $246,255,000 after acquiring an additional 918,735 shares during the last quarter. Finally, River Road Asset Management LLC purchased a new stake in shares of KAR Auction Services during the 2nd quarter valued at $37,096,000. Institutional investors own 98.57% of the company’s stock.

In other news, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total value of $481,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.90%. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 19th. KAR Auction Services’s payout ratio is 75.29%.

KAR Auction Services Company Profile

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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Earnings History and Estimates for KAR Auction Services (NYSE:KAR)

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