Q1 2017 EPS Estimates for KAR Auction Services Inc. (KAR) Lowered by Barrington Research
KAR Auction Services Inc. (NYSE:KAR) – Stock analysts at Barrington Research decreased their Q1 2017 earnings estimates for shares of KAR Auction Services in a research report issued to clients and investors on Monday. Barrington Research analyst G. Prestopino now forecasts that the brokerage will post earnings of $0.61 per share for the quarter, down from their prior estimate of $0.64. Barrington Research also issued estimates for KAR Auction Services’ Q3 2017 earnings at $0.56 EPS and Q4 2017 earnings at $0.53 EPS.
KAR has been the topic of a number of other research reports. Zacks Investment Research lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, October 20th. Susquehanna began coverage on KAR Auction Services in a research report on Friday, August 26th. They issued a “positive” rating and a $50.00 price target on the stock. Macquarie reiterated an “outperform” rating on shares of KAR Auction Services in a research report on Monday, August 29th. Jefferies Group upped their price target on KAR Auction Services from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. KAR Auction Services has a consensus rating of “Buy” and a consensus price target of $43.71.
KAR Auction Services (NYSE:KAR) opened at 39.22 on Wednesday. The company’s 50 day moving average price is $42.69 and its 200-day moving average price is $41.45. The company has a market capitalization of $5.42 billion, a P/E ratio of 24.22 and a beta of 1.41. KAR Auction Services has a 12-month low of $31.54 and a 12-month high of $44.10.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.03. The firm had revenue of $773.80 million for the quarter, compared to the consensus estimate of $770.84 million. KAR Auction Services had a return on equity of 19.45% and a net margin of 7.58%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share.
A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in shares of KAR Auction Services by 178.6% in the third quarter. PNC Financial Services Group Inc. now owns 2,385 shares of the company’s stock valued at $104,000 after buying an additional 1,529 shares during the period. Bank of Montreal Can acquired a new stake in shares of KAR Auction Services during the second quarter worth about $137,000. BlackRock Japan Co. Ltd increased its stake in shares of KAR Auction Services by 85.7% in the second quarter. BlackRock Japan Co. Ltd now owns 3,636 shares of the company’s stock worth $152,000 after buying an additional 1,678 shares during the period. Pacer Advisors Inc. increased its stake in shares of KAR Auction Services by 508.5% in the second quarter. Pacer Advisors Inc. now owns 4,150 shares of the company’s stock worth $174,000 after buying an additional 3,468 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of KAR Auction Services by 416.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,281 shares of the company’s stock worth $183,000 after buying an additional 3,452 shares during the period.
In other KAR Auction Services news, EVP Lisa A. Price sold 5,140 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $44.00, for a total transaction of $226,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin Skuy sold 10,000 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $42.74, for a total value of $427,400.00. Following the transaction, the executive vice president now directly owns 87,420 shares of the company’s stock, valued at $3,736,330.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Wednesday, December 21st will be paid a $0.32 dividend. The ex-dividend date is Monday, December 19th. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 3.26%. KAR Auction Services’s dividend payout ratio is 71.60%.
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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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