KAR Auction Services Inc (NYSE:KAR) Expected to Announce Earnings of $0.39 Per Share

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Equities analysts forecast that KAR Auction Services Inc (NYSE:KAR) will report earnings per share of $0.39 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for KAR Auction Services’ earnings, with estimates ranging from $0.35 to $0.42. KAR Auction Services reported earnings per share of $0.70 during the same quarter last year, which suggests a negative year-over-year growth rate of 44.3%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, November 5th.

On average, analysts expect that KAR Auction Services will report full year earnings of $1.23 per share for the current financial year, with EPS estimates ranging from $1.16 to $1.25. For the next year, analysts expect that the company will post earnings of $1.52 per share, with EPS estimates ranging from $1.34 to $1.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for KAR Auction Services.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, August 6th. The specialty retailer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). KAR Auction Services had a net margin of 7.67% and a return on equity of 19.93%. The firm had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $692.00 million. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis.

A number of equities research analysts have weighed in on KAR shares. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday. ValuEngine upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $33.58.

NYSE KAR opened at $24.60 on Friday. The stock’s 50-day simple moving average is $24.85 and its two-hundred day simple moving average is $36.79. KAR Auction Services has a twelve month low of $16.41 and a twelve month high of $28.61. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 1.42 and a beta of 1.06.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arlington Partners LLC grew its stake in shares of KAR Auction Services by 64.7% in the third quarter. Arlington Partners LLC now owns 1,400 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 550 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of KAR Auction Services in the second quarter worth about $42,000. Baskin Financial Services Inc. bought a new stake in shares of KAR Auction Services in the second quarter worth about $260,000. San Francisco Sentry Investment Group CA grew its stake in shares of KAR Auction Services by 30.6% in the third quarter. San Francisco Sentry Investment Group CA now owns 4,668 shares of the specialty retailer’s stock worth $114,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Cutler Group LP boosted its position in KAR Auction Services by 157.0% during the 2nd quarter. Cutler Group LP now owns 5,242 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 14,442 shares in the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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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Earnings History and Estimates for KAR Auction Services (NYSE:KAR)

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