Brokerages expect KAR Auction Services Inc (NYSE:KAR) to announce sales of $693.76 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for KAR Auction Services’ earnings, with the highest sales estimate coming in at $709.23 million and the lowest estimate coming in at $682.00 million. KAR Auction Services posted sales of $956.60 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.5%. The company is scheduled to report its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that KAR Auction Services will report full year sales of $2.71 billion for the current fiscal year, with estimates ranging from $2.67 billion to $2.74 billion. For the next financial year, analysts forecast that the business will post sales of $2.83 billion, with estimates ranging from $2.75 billion to $2.91 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for KAR Auction Services.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. KAR Auction Services had a return on equity of 25.43% and a net margin of 8.17%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share.

A number of equities research analysts recently issued reports on the stock. Barrington Research boosted their target price on shares of Franklin Covey from $34.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, June 28th. Robert W. Baird assumed coverage on shares of IAA in a report on Friday, June 28th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of SS&C Technologies in a report on Monday, July 1st. ValuEngine downgraded shares of WideOpenWest from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Finally, SunTrust Banks boosted their target price on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.50.

Shares of NYSE KAR traded up $0.36 during midday trading on Friday, reaching $25.03. 3,131,200 shares of the stock were exchanged, compared to its average volume of 4,070,759. KAR Auction Services has a 52-week low of $16.41 and a 52-week high of $26.00. The stock’s 50 day simple moving average is $45.96. The stock has a market capitalization of $3.33 billion, a P/E ratio of 8.46, a P/E/G ratio of 2.03 and a beta of 1.10. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.17 and a quick ratio of 1.17.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in KAR Auction Services by 46.2% during the first quarter. BlackRock Inc. now owns 10,730,329 shares of the specialty retailer’s stock valued at $550,575,000 after buying an additional 3,392,759 shares in the last quarter. Boston Partners lifted its position in KAR Auction Services by 4.4% during the first quarter. Boston Partners now owns 5,713,376 shares of the specialty retailer’s stock valued at $293,153,000 after buying an additional 243,015 shares in the last quarter. Mawer Investment Management Ltd. lifted its position in KAR Auction Services by 1.9% during the first quarter. Mawer Investment Management Ltd. now owns 3,687,337 shares of the specialty retailer’s stock valued at $189,197,000 after buying an additional 68,138 shares in the last quarter. First Manhattan Co. lifted its position in KAR Auction Services by 63.5% during the first quarter. First Manhattan Co. now owns 3,261,519 shares of the specialty retailer’s stock valued at $167,348,000 after buying an additional 1,266,287 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in KAR Auction Services by 26.2% during the first quarter. Janus Henderson Group PLC now owns 2,363,553 shares of the specialty retailer’s stock valued at $121,274,000 after buying an additional 490,159 shares in the last quarter. 99.90% of the stock is currently owned by hedge funds and other institutional investors.

KAR Auction Services Company Profile

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

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