Brokerages expect that KAR Auction Services Inc (NYSE:KAR) will announce earnings per share (EPS) of ($0.10) for the current quarter, according to Zacks. Five analysts have made estimates for KAR Auction Services’ earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.14). KAR Auction Services reported earnings of $0.30 per share in the same quarter last year, which suggests a negative year over year growth rate of 133.3%. The business is scheduled to report its next quarterly earnings report before the market opens on Wednesday, August 5th.
According to Zacks, analysts expect that KAR Auction Services will report full-year earnings of $0.36 per share for the current financial year, with EPS estimates ranging from $0.15 to $0.65. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.99 per share, with EPS estimates ranging from $0.65 to $1.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow KAR Auction Services.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Thursday, May 7th. The specialty retailer reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). KAR Auction Services had a return on equity of 7.42% and a net margin of 4.15%. The firm had revenue of $645.50 million for the quarter, compared to analysts’ expectations of $632.59 million. During the same period in the prior year, the firm posted $0.70 earnings per share. KAR Auction Services’s revenue for the quarter was down 38.3% on a year-over-year basis.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Thursday, July 23rd. Barrington Research reiterated a “buy” rating and set a $25.00 price objective on shares of KAR Auction Services in a report on Monday, May 4th. Stephens decreased their price objective on shares of KAR Auction Services from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. ValuEngine upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. upgraded shares of KAR Auction Services from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.50.
Large investors have recently bought and sold shares of the company. Ameritas Investment Company LLC bought a new stake in shares of KAR Auction Services in the 1st quarter valued at about $26,000. Cerebellum GP LLC bought a new stake in shares of KAR Auction Services in the 2nd quarter valued at about $127,000. Parkside Financial Bank & Trust raised its holdings in shares of KAR Auction Services by 33.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 3,068 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 777 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of KAR Auction Services by 32.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,583 shares of the specialty retailer’s stock valued at $143,000 after purchasing an additional 1,594 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA raised its holdings in shares of KAR Auction Services by 22.7% in the 1st quarter. San Francisco Sentry Investment Group CA now owns 7,255 shares of the specialty retailer’s stock valued at $87,000 after purchasing an additional 1,340 shares in the last quarter.
KAR stock opened at $15.13 on Friday. KAR Auction Services has a 12 month low of $9.41 and a 12 month high of $28.61. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $14.14 and a 200 day moving average price of $15.96. The stock has a market cap of $1.95 billion, a PE ratio of 17.80, a P/E/G ratio of 7.56 and a beta of 1.40.
About KAR Auction Services
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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