KAR Auction Services Inc (NYSE:KAR) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the Thomson Reuters consensus estimate of $2.18.
A number of brokerages have commented on KAR. Zacks Investment Research upgraded KAR Auction Services from a hold rating to a buy rating and set a $51.00 price objective for the company in a research report on Monday, February 13th. Wolfe Research began coverage on KAR Auction Services in a research report on Thursday, March 2nd. They set an outperform rating for the company. Finally, Gabelli began coverage on KAR Auction Services in a research report on Friday, April 7th. They set a buy rating for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $49.00.
Shares of KAR Auction Services Inc (NYSE:KAR) traded up 0.56% on Friday, hitting $42.93. The company had a trading volume of 922,127 shares. The firm has a 50 day moving average of $42.87 and a 200-day moving average of $43.46. KAR Auction Services Inc has a 12-month low of $38.16 and a 12-month high of $47.03. The firm has a market capitalization of $5.89 billion, a P/E ratio of 25.86 and a beta of 1.35.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, May 9th. The specialty retailer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $866.60 million during the quarter, compared to the consensus estimate of $848.73 million. KAR Auction Services had a net margin of 7.58% and a return on equity of 19.45%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts predict that KAR Auction Services Inc will post $2.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Wednesday, June 21st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Monday, June 19th. KAR Auction Services’s payout ratio is currently 79.01%.
In other KAR Auction Services news, COO Donald S. Gottwald sold 18,125 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $44.29, for a total transaction of $802,756.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Kett sold 9,938 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $43.41, for a total transaction of $431,408.58. Following the transaction, the chief executive officer now directly owns 44,694 shares of the company’s stock, valued at approximately $1,940,166.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,024 shares of company stock valued at $3,453,833. 1.30% of the stock is owned by insiders.
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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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