Equities research analysts expect that KAR Auction Services, Inc. (NYSE:KAR) will post $930.89 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for KAR Auction Services’ earnings, with the highest sales estimate coming in at $942.70 million and the lowest estimate coming in at $923.64 million. KAR Auction Services posted sales of $866.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The company is expected to announce its next earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that KAR Auction Services will report full year sales of $3.69 billion for the current financial year, with estimates ranging from $3.65 billion to $3.74 billion. For the next year, analysts expect that the business will report sales of $3.93 billion per share, with estimates ranging from $3.85 billion to $4.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for KAR Auction Services.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. KAR Auction Services had a net margin of 10.47% and a return on equity of 23.61%. The firm had revenue of $890.40 million during the quarter, compared to analysts’ expectations of $882.22 million. During the same period in the previous year, the company earned $0.45 earnings per share. KAR Auction Services’s quarterly revenue was up 9.4% compared to the same quarter last year.
In other news, EVP Lisa A. Price sold 2,188 shares of KAR Auction Services stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $54.00, for a total value of $118,152.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $54.96, for a total transaction of $549,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,188 shares of company stock worth $3,140,552. 1.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new position in shares of KAR Auction Services during the fourth quarter valued at approximately $103,000. SG Americas Securities LLC acquired a new stake in shares of KAR Auction Services in the fourth quarter worth $105,000. Cerebellum GP LLC acquired a new stake in shares of KAR Auction Services in the fourth quarter worth $127,000. Assetmark Inc. increased its position in shares of KAR Auction Services by 336.4% in the fourth quarter. Assetmark Inc. now owns 3,116 shares of the specialty retailer’s stock worth $157,000 after acquiring an additional 2,402 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of KAR Auction Services by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 363 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.
NYSE KAR traded up $0.29 during trading hours on Friday, hitting $53.12. 260,657 shares of the company were exchanged, compared to its average volume of 945,362. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.31 and a quick ratio of 1.31. KAR Auction Services has a 52 week low of $40.27 and a 52 week high of $56.75. The stock has a market capitalization of $7,100.82, a P/E ratio of 21.39, a PEG ratio of 1.62 and a beta of 1.10.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 4th. Investors of record on Thursday, March 22nd were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 21st. This represents a $1.40 annualized dividend and a yield of 2.64%. KAR Auction Services’s dividend payout ratio is presently 56.00%.
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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