KAR Auction Services, Inc (NYSE:KAR) – Equities researchers at Jefferies Group decreased their Q3 2017 earnings per share (EPS) estimates for KAR Auction Services in a research note issued to investors on Wednesday. Jefferies Group analyst B. Jordan now anticipates that the specialty retailer will post earnings of $0.54 per share for the quarter, down from their previous forecast of $0.58. Jefferies Group also issued estimates for KAR Auction Services’ Q4 2017 earnings at $0.43 EPS.
A number of other equities analysts have also commented on the company. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Gabelli started coverage on KAR Auction Services in a research note on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price objective on the stock. Finally, BidaskClub lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $54.33.
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Shares of KAR Auction Services (NYSE KAR) opened at 42.55 on Friday. The company has a market capitalization of $5.79 billion, a PE ratio of 26.10 and a beta of 1.12. KAR Auction Services has a 52 week low of $38.16 and a 52 week high of $47.03. The stock has a 50 day moving average price of $41.64 and a 200-day moving average price of $43.44.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $858 million during the quarter, compared to analysts’ expectations of $850.67 million. KAR Auction Services had a return on equity of 21.56% and a net margin of 6.83%. KAR Auction Services’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio is currently 78.53%.
In related news, CEO John W. Kett sold 10,008 shares of KAR Auction Services stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.06, for a total value of $420,936.48. Following the transaction, the chief executive officer now directly owns 58,941 shares of the company’s stock, valued at $2,479,058.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John W. Kett sold 10,011 shares of KAR Auction Services stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the transaction, the chief executive officer now directly owns 65,982 shares in the company, valued at $2,771,903.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,932 shares of company stock worth $1,276,878. 1.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in KAR Auction Services by 20,047.2% in the first quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock worth $245,357,000 after buying an additional 5,590,549 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of KAR Auction Services during the first quarter worth $71,664,000. Marshall Wace North America L.P. acquired a new stake in shares of KAR Auction Services during the first quarter worth $71,664,000. FMR LLC increased its stake in shares of KAR Auction Services by 9.7% in the first quarter. FMR LLC now owns 16,076,350 shares of the specialty retailer’s stock worth $702,054,000 after buying an additional 1,421,328 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of KAR Auction Services by 479.1% in the first quarter. Janus Capital Management LLC now owns 1,348,178 shares of the specialty retailer’s stock worth $58,875,000 after buying an additional 1,115,378 shares during 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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