KAR Auction Services Inc (NYSE:KAR) – Equities researchers at Gabelli reduced their FY2019 earnings per share (EPS) estimates for KAR Auction Services in a note issued to investors on Thursday, November 8th, according to Zacks Investment Research. Gabelli analyst M. Paige now anticipates that the specialty retailer will earn $3.60 per share for the year, down from their previous estimate of $3.65. Gabelli has a “Hold” rating on the stock. Gabelli also issued estimates for KAR Auction Services’ FY2020 earnings at $3.85 EPS, FY2021 earnings at $4.25 EPS and FY2022 earnings at $4.75 EPS.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The company had revenue of $933.50 million during the quarter, compared to analysts’ expectations of $910.43 million. KAR Auction Services had a net margin of 11.62% and a return on equity of 26.50%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share.
Shares of NYSE KAR traded down $2.30 during mid-day trading on Monday, reaching $54.73. The company had a trading volume of 756,914 shares, compared to its average volume of 832,186. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.32 and a quick ratio of 1.32. KAR Auction Services has a 52-week low of $48.22 and a 52-week high of $64.55. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, December 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 56.00%.
In other news, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total transaction of $629,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.29% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KAR. BlackRock Inc. lifted its stake in KAR Auction Services by 19.5% in the 2nd quarter. BlackRock Inc. now owns 7,506,952 shares of the specialty retailer’s stock valued at $411,380,000 after acquiring an additional 1,226,197 shares in the last quarter. Voya Investment Management LLC lifted its stake in KAR Auction Services by 853.3% in the 2nd quarter. Voya Investment Management LLC now owns 1,119,459 shares of the specialty retailer’s stock valued at $61,346,000 after acquiring an additional 1,002,023 shares in the last quarter. Victory Capital Management Inc. lifted its stake in KAR Auction Services by 63.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,062,077 shares of the specialty retailer’s stock valued at $123,086,000 after acquiring an additional 802,767 shares in the last quarter. Bank of America Corp DE lifted its stake in KAR Auction Services by 97.8% in the 2nd quarter. Bank of America Corp DE now owns 1,477,098 shares of the specialty retailer’s stock valued at $80,944,000 after acquiring an additional 730,355 shares in the last quarter. Finally, South Texas Money Management Ltd. bought a new stake in KAR Auction Services in the 2nd quarter valued at approximately $32,997,000. Hedge funds and other institutional investors own 97.27% of the company’s stock.
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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