Wall Street brokerages expect KAR Auction Services Inc (NYSE:KAR) to announce $0.79 earnings per share for the current quarter, according to Zacks. Five analysts have provided estimates for KAR Auction Services’ earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.83. KAR Auction Services posted earnings of $0.65 per share during the same quarter last year, which suggests a positive year over year growth rate of 21.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 14th.
On average, analysts expect that KAR Auction Services will report full year earnings of $2.99 per share for the current year, with EPS estimates ranging from $2.95 to $3.05. For the next financial year, analysts expect that the firm will report earnings of $3.32 per share, with EPS estimates ranging from $3.20 to $3.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow KAR Auction Services.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, May 8th. The specialty retailer reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. The business had revenue of $950.50 million during the quarter, compared to analysts’ expectations of $923.66 million. KAR Auction Services had a net margin of 10.81% and a return on equity of 24.93%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS.
KAR traded up $0.39 during trading on Friday, hitting $55.14. 637,514 shares of the stock traded hands, compared to its average volume of 940,239. The stock has a market capitalization of $7.44 billion, a P/E ratio of 22.06, a PEG ratio of 1.32 and a beta of 1.09. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.75. KAR Auction Services has a 12-month low of $40.27 and a 12-month high of $56.75.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Thursday, June 21st will be issued a $0.35 dividend. The ex-dividend date is Wednesday, June 20th. This represents a $1.40 annualized dividend and a yield of 2.54%. KAR Auction Services’s dividend payout ratio (DPR) is presently 56.00%.
In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $53.39, for a total value of $533,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca C. Polak sold 39,589 shares of the company’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $55.20, for a total transaction of $2,185,312.80. Following the completion of the transaction, the insider now owns 51,041 shares of the company’s stock, valued at $2,817,463.20. The disclosure for this sale can be found here. Insiders sold a total of 59,589 shares of company stock valued at $3,271,213 over the last 90 days. Company insiders own 1.29% of the company’s stock.
Several institutional investors have recently modified their holdings of KAR. SeaCrest Wealth Management LLC bought a new position in shares of KAR Auction Services in the 4th quarter worth about $103,000. SG Americas Securities LLC bought a new position in shares of KAR Auction Services in the 4th quarter worth about $105,000. Assetmark Inc. increased its stake in shares of KAR Auction Services by 336.4% in the 4th 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. Stoneridge Investment Partners LLC bought a new position in shares of KAR Auction Services in the 4th quarter worth about $207,000. Finally, Stephens Inc. AR bought a new position in shares of KAR Auction Services in the 1st quarter worth about $215,000.
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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