Favorable Media Coverage Somewhat Unlikely to Affect KAR Auction Services (KAR) Stock Price
News coverage about KAR Auction Services (NYSE:KAR) has been trending positive this week, Accern reports. The research firm rates the sentiment of press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. KAR Auction Services earned a media sentiment score of 0.28 on Accern’s scale. Accern also assigned news articles about the specialty retailer an impact score of 47.2158566636075 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Several equities analysts recently commented on KAR shares. Zacks Investment Research lowered KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Stephens downgraded KAR Auction Services from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $51.00 to $48.00 in a report on Thursday, September 7th. 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. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a report on Thursday, November 2nd. Finally, J P Morgan Chase & Co lifted their price objective on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $52.20.
Shares of KAR Auction Services (NYSE:KAR) traded up $0.18 during midday trading on Friday, hitting $47.70. The stock had a trading volume of 661,356 shares, compared to its average volume of 1,394,236. KAR Auction Services has a 1-year low of $39.74 and a 1-year high of $49.38. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market cap of $6,452.13, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 1.50 and a beta of 1.08.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The business had revenue of $843.00 million during the quarter, compared to analyst estimates of $846.42 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. research analysts forecast that KAR Auction Services will post 2.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.94%. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s payout ratio is currently 75.29%.
In related news, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total transaction of $481,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.
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 or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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