KAR Auction Services Inc (NYSE:KAR) – Investment analysts at Barrington Research issued their Q1 2019 earnings estimates for shares of KAR Auction Services in a research note issued on Friday. Barrington Research analyst G. Prestopino forecasts that the specialty retailer will earn $0.79 per share for the quarter. Barrington Research also issued estimates for KAR Auction Services’ Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.72 EPS and Q4 2019 earnings at $0.80 EPS.
A number of other research analysts have also commented on the company. Robert W. Baird reissued a “buy” rating and set a $58.00 price target on shares of KAR Auction Services in a report on Friday. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Wednesday, February 7th. Stephens set a $57.00 target price on KAR Auction Services and gave the stock a “hold” rating in a report on Wednesday, January 17th. Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. lifted their target price on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. KAR Auction Services has a consensus rating of “Buy” and an average price target of $55.00.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The company had revenue of $890.40 million for the quarter, compared to analyst estimates of $882.22 million. KAR Auction Services had a return on equity of 23.61% and a net margin of 10.47%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Thursday, March 22nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Wednesday, March 21st. KAR Auction Services’s payout ratio is currently 53.03%.
In related news, EVP Lisa A. Price sold 6,563 shares of KAR Auction Services stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $54.05, for a total transaction of $354,730.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC acquired a new position in shares of KAR Auction Services in the 4th quarter valued at $103,000. SG Americas Securities LLC acquired a new position in shares of KAR Auction Services in the 4th quarter valued at $105,000. Cerebellum GP LLC acquired a new position in shares of KAR Auction Services in the 4th quarter valued at $127,000. KBC Group NV boosted its position in shares of KAR Auction Services by 81.5% in the 3rd quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock valued at $129,000 after purchasing an additional 1,211 shares during the period. Finally, Assetmark Inc. boosted its position 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 valued at $157,000 after purchasing an additional 2,402 shares during the period. 97.65% of the stock is currently owned by hedge funds and other institutional investors.
KAR Auction Services Company Profile
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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