KAR Auction Services Inc to Post Q4 2018 Earnings of $0.63 Per Share, Northcoast Research Forecasts (KAR)

KAR Auction Services Inc (NYSE:KAR) – Equities researchers at Northcoast Research cut their Q4 2018 earnings estimates for shares of KAR Auction Services in a research report issued on Wednesday, November 7th. Northcoast Research analyst J. Healy now expects that the specialty retailer will earn $0.63 per share for the quarter, down from their prior estimate of $0.66.

Other equities analysts have also recently issued research reports about the company. Barrington Research set a $70.00 price target on KAR Auction Services and gave the company a “buy” rating in a research report on Monday. ValuEngine upgraded KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, October 17th. SunTrust Banks set a $70.00 price target on KAR Auction Services and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, Stephens restated a “hold” rating and issued a $60.00 price target on shares of KAR Auction Services in a research report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $65.29.

Shares of KAR stock opened at $55.66 on Friday. The stock has a market capitalization of $7.75 billion, a P/E ratio of 22.26, a P/E/G ratio of 1.73 and a beta of 1.08. KAR Auction Services has a 52-week low of $47.43 and a 52-week high of $64.55. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.31 and a current ratio of 1.31.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The company had revenue of $933.50 million during the quarter, compared to analyst estimates of $910.43 million. KAR Auction Services had a net margin of 11.62% and a return on equity of 26.74%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.52%. The ex-dividend date is Wednesday, December 19th. KAR Auction Services’s payout ratio is 56.00%.

In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total transaction of $629,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James E. Money II sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $62.17, for a total value of $994,720.00. Following the transaction, the insider now owns 25,619 shares in the company, valued at approximately $1,592,733.23. The disclosure for this sale can be found here. Insiders have sold a total of 127,560 shares of company stock worth $7,978,854 in the last quarter. 1.29% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its stake in shares of KAR Auction Services by 0.9% during the 3rd quarter. Janus Henderson Group PLC now owns 1,730,830 shares of the specialty retailer’s stock worth $103,313,000 after acquiring an additional 15,199 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of KAR Auction Services by 2.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,341 shares of the specialty retailer’s stock worth $3,363,000 after acquiring an additional 1,602 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in shares of KAR Auction Services during the 3rd quarter worth approximately $477,000. MML Investors Services LLC boosted its stake in shares of KAR Auction Services by 59.4% during the 3rd quarter. MML Investors Services LLC now owns 16,410 shares of the specialty retailer’s stock worth $980,000 after acquiring an additional 6,114 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of KAR Auction Services by 2.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,696,409 shares of the specialty retailer’s stock worth $160,949,000 after acquiring an additional 69,743 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.

About KAR Auction Services

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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