Q3 2017 EPS Estimates for KAR Auction Services, Inc (NYSE:KAR) Cut by Analyst
KAR Auction Services, Inc (NYSE:KAR) – Analysts at Northcoast Research dropped their Q3 2017 earnings per share estimates for shares of KAR Auction Services in a research note issued to investors on Thursday. Northcoast Research analyst J. Healy now anticipates that the specialty retailer will earn $0.43 per share for the quarter, down from their prior estimate of $0.56. Northcoast Research also issued estimates for KAR Auction Services’ Q4 2017 earnings at $0.36 EPS and FY2018 earnings at $2.51 EPS.
KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The firm had revenue of $858 million for the quarter, compared to analysts’ expectations of $850.67 million. KAR Auction Services had a return on equity of 21.56% and a net margin of 6.83%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share.
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A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. BidaskClub raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Gabelli assumed coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $54.33.
KAR Auction Services (KAR) opened at 42.55 on Friday. The company has a 50-day moving average price of $41.64 and a 200 day moving average price of $43.44. KAR Auction Services has a 52-week low of $38.16 and a 52-week high of $47.03. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 26.10 and a beta of 1.12.
Large investors have recently made changes to their positions in the company. Toronto Dominion Bank raised its stake in shares of KAR Auction Services by 7.2% in the first quarter. Toronto Dominion Bank now owns 2,830 shares of the specialty retailer’s stock valued at $124,000 after buying an additional 190 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of KAR Auction Services by 378.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock valued at $130,000 after buying an additional 2,346 shares in the last quarter. CENTRAL TRUST Co bought a new stake in shares of KAR Auction Services during the second quarter valued at approximately $150,000. SG Americas Securities LLC bought a new stake in shares of KAR Auction Services during the first quarter valued at approximately $162,000. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of KAR Auction Services by 3.6% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,897 shares of the specialty retailer’s stock valued at $214,000 after buying an additional 168 shares in the last quarter.
In related news, CEO John W. Kett sold 10,011 shares of KAR Auction Services stock in a transaction 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 sale, the chief executive officer now directly owns 65,982 shares in the company, valued at approximately $2,771,903.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Kett sold 10,008 shares of KAR Auction Services stock in a transaction 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 sale, the chief executive officer now owns 58,941 shares in the company, valued at $2,479,058.46. The disclosure for this sale can be found here. Insiders have sold a total of 29,932 shares of company stock worth $1,276,878 over the last quarter. 1.30% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $1.28 annualized dividend and a yield of 3.01%. KAR Auction Services’s dividend payout ratio is currently 78.53%.
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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