KAR Auction Services Inc (NYSE:KAR) announced a quarterly dividend on Tuesday, February 19th, RTT News reports. Stockholders of record on Friday, March 22nd will be given a dividend of 0.35 per share by the specialty retailer on Thursday, April 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.60%.
KAR Auction Services has raised its dividend payment by an average of 9.0% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. KAR Auction Services has a dividend payout ratio of 46.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect KAR Auction Services to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 44.0%.
NYSE KAR opened at $53.85 on Wednesday. KAR Auction Services has a 12 month low of $45.36 and a 12 month high of $64.55. The firm has a market capitalization of $7.34 billion, a PE ratio of 21.54, a P/E/G ratio of 1.59 and a beta of 1.19. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.32 and a current ratio of 1.32.
A number of equities research analysts have recently commented on KAR shares. SunTrust Banks cut their target price on KAR Auction Services to $65.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. ValuEngine raised KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Barrington Research set a $70.00 target price on KAR Auction Services and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $64.57.
KAR Auction Services Company Profile
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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