KAR Auction Services (KAR) Updates FY18 Earnings Guidance

KAR Auction Services (NYSE:KAR) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.89-3.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.99. KAR Auction Services also updated its FY 2018 guidance to $2.89-3.04 EPS.

Several analysts have issued reports on the company. Zacks Investment Research raised KAR Auction Services from a hold rating to a buy rating and set a $67.00 target price on the stock in a research report on Tuesday, August 7th. Barrington Research reaffirmed a buy rating on shares of KAR Auction Services in a research report on Monday, August 6th. ValuEngine raised KAR Auction Services from a hold rating to a buy rating in a research report on Wednesday, October 31st. Robert W. Baird raised their price objective on KAR Auction Services from $62.00 to $64.00 and gave the stock an outperform rating in a research report on Thursday, August 9th. Finally, SunTrust Banks set a $70.00 price objective on KAR Auction Services and gave the stock a buy rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $65.29.

KAR Auction Services stock opened at $57.73 on Wednesday. KAR Auction Services has a 1-year low of $47.43 and a 1-year high of $64.55. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $7.81 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.70. KAR Auction Services had a return on equity of 26.15% and a net margin of 11.50%. The company had revenue of $933.50 million during the quarter, compared to analysts’ expectations of $910.43 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts expect that KAR Auction Services will post 3 EPS for the current fiscal year.

In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total transaction of $629,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Benjamin Skuy sold 59,560 shares of KAR Auction Services stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $62.74, for a total value of $3,736,794.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 277,560 shares of company stock valued at $17,295,354. 1.29% of the stock is currently owned by insiders.

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

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