KAR Auction Services Inc. (NYSE:KAR) – Investment analysts at Northcoast Research decreased their FY2016 earnings per share (EPS) estimates for shares of KAR Auction Services in a report issued on Monday. Northcoast Research analyst J. Healy now expects that the brokerage will earn $2.10 per share for the year, down from their prior forecast of $2.16. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for KAR Auction Services’ Q4 2016 earnings at $0.50 EPS and FY2017 earnings at $2.40 EPS.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. The company earned $773.80 million during the quarter, compared to analysts’ expectations of $770.84 million. KAR Auction Services had a return on equity of 19.45% and a net margin of 7.58%. KAR Auction Services’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share.

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

A number of other analysts have also commented on KAR. Zacks Investment Research lowered KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. Jefferies Group lifted their price objective on KAR Auction Services from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. Susquehanna assumed coverage on KAR Auction Services in a research report on Friday, August 26th. They issued a “positive” rating and a $50.00 price objective for the company. Finally, Macquarie reiterated an “outperform” rating on shares of KAR Auction Services in a research report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.71.

Shares of KAR Auction Services (NYSE:KAR) opened at 38.66 on Wednesday. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 23.88 and a beta of 1.41. The stock has a 50 day moving average of $42.57 and a 200-day moving average of $41.43. KAR Auction Services has a 52-week low of $31.54 and a 52-week high of $44.10.

Several institutional investors have recently added to or reduced their stakes in KAR. First Manhattan Co. acquired a new position in KAR Auction Services during the second quarter valued at $16,485,000. GW&K Investment Management LLC boosted its position in KAR Auction Services by 6.6% in the second quarter. GW&K Investment Management LLC now owns 786,896 shares of the company’s stock valued at $32,845,000 after buying an additional 48,624 shares during the period. BNP Paribas Arbitrage SA acquired a new position in KAR Auction Services during the second quarter valued at $4,631,000. Boothbay Fund Management LLC boosted its position in KAR Auction Services by 24.5% in the first quarter. Boothbay Fund Management LLC now owns 23,726 shares of the company’s stock valued at $905,000 after buying an additional 4,671 shares during the period. Finally, Origin Asset Management LLP acquired a new position in KAR Auction Services during the first quarter valued at $5,076,000.

In other news, EVP Benjamin Skuy sold 10,000 shares of KAR Auction Services stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $42.74, for a total transaction of $427,400.00. Following the transaction, the executive vice president now owns 87,420 shares in the company, valued at approximately $3,736,330.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa A. Price sold 5,140 shares of KAR Auction Services stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $44.00, for a total value of $226,160.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Wednesday, December 21st will be given a dividend of $0.32 per share. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, December 19th. KAR Auction Services’s payout ratio is presently 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).

5 Day Chart for NYSE:KAR

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