Wall Street analysts expect KAR Auction Services, Inc (NYSE:KAR) to post $841.38 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for KAR Auction Services’ earnings, with the highest sales estimate coming in at $860.95 million and the lowest estimate coming in at $823.20 million. KAR Auction Services reported sales of $773.80 million in the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The firm is scheduled to announce its next earnings report on Thursday, November 2nd.

On average, analysts expect that KAR Auction Services will report full year sales of $841.38 million for the current year, with estimates ranging from $3.41 billion to $3.44 billion. For the next year, analysts expect that the business will report sales of $3.64 billion per share, with estimates ranging from $3.59 billion to $3.70 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover KAR Auction Services.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. KAR Auction Services had a return on equity of 21.46% and a net margin of 6.83%. The firm had revenue of $858.00 million for the quarter, compared to the consensus estimate of $850.67 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year.

Several equities analysts have recently weighed in on the company. BidaskClub cut KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Gabelli assumed coverage on KAR Auction Services in a report on Tuesday, July 4th. They set a “buy” rating and a $62.00 price target for the company. Zacks Investment Research cut KAR Auction Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stephens cut KAR Auction Services from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $51.00 to $48.00 in a report on Thursday, September 7th. Finally, Jefferies Group LLC restated a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a report on Tuesday, September 12th. Three investment 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 “Buy” and an average target price of $53.33.

KAR Auction Services (NYSE KAR) opened at 47.84 on Friday. KAR Auction Services has a 52 week low of $38.16 and a 52 week high of $48.65. The firm has a 50-day moving average price of $45.82 and a 200-day moving average price of $43.51. The stock has a market cap of $6.57 billion, a P/E ratio of 29.35 and a beta of 1.07.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.68%. KAR Auction Services’s payout ratio is 78.53%.

WARNING: “KAR Auction Services, Inc (KAR) Expected to Announce Quarterly Sales of $841.38 Million” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/10/08/kar-auction-services-inc-kar-expected-to-announce-quarterly-sales-of-841-38-million.html.

In other KAR Auction Services news, CEO John W. Kett sold 10,011 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total transaction of $420,562.11. Following the completion of the transaction, the chief executive officer now directly owns 65,982 shares in the company, valued at $2,771,903.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $43.68, for a total transaction of $436,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,031 shares of company stock valued at $858,249. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Brookstone Capital Management acquired a new position in KAR Auction Services during the second quarter valued at approximately $269,000. CENTRAL TRUST Co acquired a new position in KAR Auction Services during the second quarter valued at approximately $150,000. River Road Asset Management LLC acquired a new position in KAR Auction Services during the second quarter valued at approximately $37,096,000. Visionary Asset Management Inc. acquired a new position in KAR Auction Services during the second quarter valued at approximately $309,000. Finally, Gilbert & Cook Inc. acquired a new position in KAR Auction Services during the second quarter valued at approximately $240,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

About KAR Auction Services

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 or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Get a free copy of the Zacks research report on KAR Auction Services (KAR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Stock Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related stocks with our FREE daily email newsletter.