KAR Auction Services, Inc (NYSE:KAR) – Research analysts at Barrington Research boosted their FY2017 EPS estimates for shares of KAR Auction Services in a research note issued on Wednesday, Zacks Investment Research reports. Barrington Research analyst G. Prestopino now anticipates that the company will post earnings per share of $2.30 for the year, up from their prior estimate of $2.23. Barrington Research also issued estimates for KAR Auction Services’ FY2018 earnings at $2.50 EPS.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, October 31st. The company reported C$0.57 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.51 by C$0.06. The business had revenue of C$843.00 million for the quarter, compared to analyst estimates of C$846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS.
Several other equities analysts have also commented on KAR. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, November 8th. Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Thursday, November 2nd. BidaskClub upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. J P Morgan Chase & Co increased 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$52.20.
KAR Auction Services (KAR) opened at C$48.49 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $6,559.00, a PE ratio of 21.17, a PEG ratio of 1.52 and a beta of 1.08. KAR Auction Services has a 1 year low of C$38.39 and a 1 year high of C$49.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.40 annualized dividend and a yield of 2.89%. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s dividend payout ratio (DPR) is 75.29%.
In other news, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of C$43.68, for a total value of C$436,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC increased its position in KAR Auction Services by 832.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the company’s stock valued at $103,000 after buying an additional 832 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of KAR Auction Services in the 2nd quarter worth $118,000. CENTRAL TRUST Co purchased a new position in shares of KAR Auction Services in the 2nd quarter worth $150,000. SG Americas Securities LLC purchased a new position in shares of KAR Auction Services in the 1st quarter worth $162,000. Finally, PNC Financial Services Group Inc. lifted its position in KAR Auction Services by 105.6% during the second quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the company’s stock valued at $171,000 after purchasing an additional 2,087 shares in the last quarter.
About KAR Auction Services
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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