Analysts Anticipate KAR Auction Services Inc (NYSE:KAR) to Post $0.30 EPS

Share on StockTwits

Equities research analysts expect KAR Auction Services Inc (NYSE:KAR) to post $0.30 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for KAR Auction Services’ earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.52. KAR Auction Services reported earnings per share of $0.35 during the same quarter last year, which would suggest a negative year over year growth rate of 14.3%. The business is scheduled to announce its next earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that KAR Auction Services will report full year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.60 to $1.13. For the next year, analysts anticipate that the company will report earnings of $1.34 per share, with EPS estimates ranging from $1.18 to $2.08. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow KAR Auction Services.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 4th. The specialty retailer reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.18. KAR Auction Services had a return on equity of 5.72% and a net margin of 1.05%. The business had revenue of $419.00 million for the quarter, compared to analyst estimates of $420.08 million. During the same quarter last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was down 41.7% compared to the same quarter last year.

A number of research firms have recently commented on KAR. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday, August 19th. SunTrust Banks raised their price objective on KAR Auction Services from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Northcoast Research upgraded KAR Auction Services from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Thursday, August 13th. Finally, Barrington Research reiterated a “buy” rating on shares of KAR Auction Services in a report on Friday, August 28th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.57.

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in KAR Auction Services by 10.2% during the 1st quarter. SG Americas Securities LLC now owns 10,335 shares of the specialty retailer’s stock worth $124,000 after purchasing an additional 957 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in KAR Auction Services by 3.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the specialty retailer’s stock worth $444,000 after acquiring an additional 1,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in KAR Auction Services by 12.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,181 shares of the specialty retailer’s stock worth $122,000 after acquiring an additional 1,104 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of KAR Auction Services by 8.0% in the 1st quarter. HBK Sorce Advisory LLC now owns 17,820 shares of the specialty retailer’s stock worth $214,000 after buying an additional 1,319 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of KAR Auction Services by 1.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 146,049 shares of the specialty retailer’s stock worth $1,753,000 after buying an additional 1,472 shares in the last quarter.

NYSE:KAR traded down $0.77 during mid-day trading on Wednesday, reaching $14.41. The company’s stock had a trading volume of 1,431,762 shares, compared to its average volume of 2,322,108. The company’s fifty day simple moving average is $17.00 and its two-hundred day simple moving average is $14.71. The stock has a market cap of $1.96 billion, a P/E ratio of 78.42, a P/E/G ratio of 3.44 and a beta of 1.47. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.62 and a quick ratio of 1.62. KAR Auction Services has a twelve month low of $9.41 and a twelve month high of $26.63.

About KAR Auction Services

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.

Featured Article: What are momentum indicators and what do they show?

Get a free copy of the Zacks research report on KAR Auction Services (KAR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.