Equities research analysts expect KAR Auction Services Inc (NYSE:KAR) to report $933.75 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for KAR Auction Services’ earnings, with the lowest sales estimate coming in at $923.64 million and the highest estimate coming in at $944.80 million. KAR Auction Services reported sales of $866.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that KAR Auction Services will report full-year sales of $933.75 million for the current fiscal year, with estimates ranging from $3.65 billion to $3.73 billion. For the next fiscal year, analysts expect that the company will post sales of $3.91 billion per share, with estimates ranging from $3.85 billion to $3.99 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover KAR Auction Services.
KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.10. KAR Auction Services had a return on equity of 23.61% and a net margin of 10.47%. The company had revenue of $890.40 million during the quarter, compared to the consensus estimate of $882.22 million. During the same period in the previous year, the firm posted $0.45 earnings per share. KAR Auction Services’s quarterly revenue was up 9.4% compared to the same quarter last year.
KAR Auction Services (KAR) opened at $51.99 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.80. KAR Auction Services has a 52 week low of $40.27 and a 52 week high of $55.19. The company has a market capitalization of $6,985.23, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 2.69%. KAR Auction Services’s dividend payout ratio is presently 53.03%.
In other news, EVP Lisa A. Price sold 6,563 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $54.05, for a total transaction of $354,730.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new position in shares of KAR Auction Services during the fourth quarter worth approximately $582,000. Handelsbanken Fonder AB boosted its position in shares of KAR Auction Services by 48.3% during the fourth quarter. Handelsbanken Fonder AB now owns 307,000 shares of the specialty retailer’s stock worth $15,507,000 after buying an additional 100,000 shares during the period. Alkeon Capital Management LLC boosted its position in shares of KAR Auction Services by 24.3% during the fourth quarter. Alkeon Capital Management LLC now owns 1,294,440 shares of the specialty retailer’s stock worth $65,382,000 after buying an additional 253,195 shares during the period. Pacific Grove Capital LP boosted its position in shares of KAR Auction Services by 52.8% during the fourth quarter. Pacific Grove Capital LP now owns 102,389 shares of the specialty retailer’s stock worth $5,172,000 after buying an additional 35,389 shares during the period. Finally, BB&T Securities LLC boosted its position in shares of KAR Auction Services by 1.9% during the fourth quarter. BB&T Securities LLC now owns 196,631 shares of the specialty retailer’s stock worth $9,931,000 after buying an additional 3,597 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.
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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