KAR Auction Services (KAR) Getting Somewhat Favorable Press Coverage, Analysis Finds
Press coverage about KAR Auction Services (NYSE:KAR) has trended somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. KAR Auction Services earned a coverage optimism score of 0.23 on Accern’s scale. Accern also gave media headlines about the specialty retailer an impact score of 48.2911881485538 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- KAR Auction Services, Inc (KAR) Upgraded to Hold by Zacks Investment Research (americanbankingnews.com)
- KAR Auction Services, Inc (NYSE:KAR) Expected to Announce Earnings of $0.51 Per Share (americanbankingnews.com)
- KAR Auction Services, Inc Forecasted to Post FY2018 Earnings of $2.65 Per Share (NYSE:KAR) (americanbankingnews.com)
- KAR Auction Services, Inc (KAR) Given Consensus Rating of “Buy” by Brokerages (americanbankingnews.com)
- Q3 2017 EPS Estimates for KAR Auction Services, Inc (KAR) Cut by Analyst (americanbankingnews.com)
Several brokerages have weighed in on KAR. Zacks Investment Research downgraded KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub downgraded KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Gabelli started coverage on KAR Auction Services in a report on Tuesday, July 4th. They set a “buy” rating and a $62.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.33.
KAR Auction Services (KAR) opened at 43.04 on Friday. The company has a market cap of $5.86 billion, a P/E ratio of 26.40 and a beta of 1.12. The firm has a 50-day moving average price of $41.68 and a 200-day moving average price of $43.43. KAR Auction Services has a 12-month low of $38.16 and a 12-month high of $47.03.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07. KAR Auction Services had a return on equity of 21.56% and a net margin of 6.83%. The business had revenue of $858 million for the quarter, compared to the consensus estimate of $850.67 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that KAR Auction Services will post $2.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a yield of 2.97%. KAR Auction Services’s payout ratio is 78.53%.
In other KAR Auction Services news, CEO John W. Kett sold 10,008 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.06, for a total transaction of $420,936.48. Following the completion of the transaction, the chief executive officer now owns 58,941 shares of the company’s stock, valued at $2,479,058.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Kett sold 10,011 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total value of $420,562.11. Following the transaction, the chief executive officer now directly owns 65,982 shares of the company’s stock, valued at approximately $2,771,903.82. The disclosure for this sale can be found here. Insiders sold a total of 29,932 shares of company stock valued at $1,276,878 in the last ninety days. 1.30% of the stock is currently 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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