KAR Auction Services Inc (NYSE:KAR) – Investment analysts at Jefferies Financial Group dropped their Q4 2018 earnings per share estimates for shares of KAR Auction Services in a research report issued to clients and investors on Wednesday, November 7th. Jefferies Financial Group analyst B. Jordan now forecasts that the specialty retailer will post earnings of $0.57 per share for the quarter, down from their prior forecast of $0.66. Jefferies Financial Group also issued estimates for KAR Auction Services’ Q1 2019 earnings at $0.89 EPS and Q2 2019 earnings at $0.87 EPS.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). KAR Auction Services had a return on equity of 26.74% and a net margin of 11.62%. The company had revenue of $933.50 million during the quarter, compared to analysts’ expectations of $910.43 million. During the same quarter last year, the firm posted $0.57 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis.
Shares of NYSE:KAR opened at $56.54 on Friday. KAR Auction Services has a 52-week low of $47.43 and a 52-week high of $64.55. The firm has a market capitalization of $7.75 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.73 and a beta of 1.08. 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 also recently declared 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. The ex-dividend date is Wednesday, December 19th. This represents a $1.40 annualized dividend and a yield of 2.48%. KAR Auction Services’s payout ratio is 56.00%.
In other news, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $61.53, for a total transaction of $615,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James E. Money II sold 32,000 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $62.57, for a total transaction of $2,002,240.00. Following the sale, the insider now owns 25,619 shares of the company’s stock, valued at $1,602,980.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,560 shares of company stock valued at $7,978,854. Company insiders own 1.29% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH raised its stake in KAR Auction Services by 16.4% in the first quarter. Allianz Asset Management GmbH now owns 823,105 shares of the specialty retailer’s stock worth $44,612,000 after buying an additional 115,891 shares in the last quarter. State of Alaska Department of Revenue raised its stake in KAR Auction Services by 32.3% in the second quarter. State of Alaska Department of Revenue now owns 16,460 shares of the specialty retailer’s stock worth $902,000 after buying an additional 4,020 shares in the last quarter. Raymond James Trust N.A. raised its stake in KAR Auction Services by 16.7% in the second quarter. Raymond James Trust N.A. now owns 11,511 shares of the specialty retailer’s stock worth $630,000 after buying an additional 1,651 shares in the last quarter. Bank of Montreal Can bought a new position in KAR Auction Services in the second quarter worth about $8,752,000. Finally, Amalgamated Bank raised its stake in KAR Auction Services by 7.6% in the second quarter. Amalgamated Bank now owns 31,083 shares of the specialty retailer’s stock worth $1,703,000 after buying an additional 2,191 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.
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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