Equity analysts expect KAR Auction Services, Inc. (NYSE: KAR – Get Rating) reported earnings per share (EPS) of $0.12 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for KAR Auction Services’ earnings. The lowest EPS estimate is $0.09 and the highest is $0.17. KAR Auction Services reported earnings per share of $0.15 during the same quarter last year, indicating a negative year-over-year growth rate of 20%. The company is scheduled to release its next earnings report on Monday, January 1st.
According to Zacks, analysts expect KAR Auction Services to report full-year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.84. For the next fiscal year, analysts expect the company to report earnings of $1.05 per share, with EPS estimates ranging from $0.85 to $1.20. Zacks’ EPS averages are an average based on a survey of sell-side analysts who follow Carr’s auction services.
KAR Auction Services (NYSE: KAR – Get Rating) published its latest quarterly earnings results on Tuesday, May 3rd. The specialty retailer reported ($0.02) earnings per share for the quarter, below analyst consensus estimates of $0.13 ($0.15). The company generated $369.40 million in revenue for the quarter, compared to the consensus estimate of $559.77 million. KAR Auction Services generated a net profit margin of 0.75% and a return on equity of 3.35%. KAR Auction Services revenue decreased 0.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 per share.
Several research analysts have recently commented on the company. Zacks Investment Research lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. Northcoast Research has lowered KAR Auction Services from a “buy” rating to a “neutral” rating and has set a $20.00 target price for the company. In a research report on Monday, February 28th. Guggenheim upgraded KAR Auction Services from a “sell” rating to a “neutral” rating in a research report released on Friday, February 25th. CJS Securities upgraded KAR Auction Services from a “market performing” rating to a “outperform” rating and set a $20.00 target price for the company in a research report on Wednesday, May 4th. Finally, StockNews.com lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Friday, May 6. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, KAR Auction Services has a consensus rating of “Hold” and an average price target of $21.83.
KAR shares opened at $13.11 on Friday. The stock has a market capitalization of $1.59 billion, a price-earnings ratio of -81.94, a price-earnings ratio of 0.64 and a beta of 1.34. KAR Auction Services recorded a 12-month low of $11.76 and a 12-month high of $22.10. The company has a trading ratio of 1.21, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The 50-day moving average for the stock is $17.01 and the 200-day moving average is $15.80.
A number of large investors have recently modified their holdings of stocks. BlackRock raised its stake in KAR Auction Services by 36.8% in the fourth quarter. BlackRock now owns 20,141,635 shares of the specialty retailer’s stock valued at $314,613,000 after purchasing an additional 5,417,707 shares in the last quarter. Snyder Capital Management LP raised its stake in KAR Auction Services by 4.7% in the fourth quarter. Snyder Capital Management LP now owns 6,578,317 shares of the specialty retailer stock valued at $102,753,000 after purchasing an additional 292,934 shares in the last quarter. Paradice Investment Management LLC raised its stake in KAR Auction Services by 17.8% in the fourth quarter. Paradice Investment Management LLC now owns 6,071,673 shares of the specialty retailer stock valued at $94,840,000 after purchasing an additional 917,466 shares in the last quarter. American Century Companies Inc. Its stake in KAR Auction Services increased by 14.2% in the third quarter. American Century Companies Inc. Now 5,797,703 shares of the specialty retailer stock are valued at $95,024,000 after purchasing an additional 719,088 shares in the last quarter. Finally, Marathon Asset Mgmt Ltd purchased a new location in KAR Auction Services in the fourth quarter valued at approximately $86,357,000.
About Car Auction Services (Get Rating)
KAR Auction Services, Inc., along with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services to the auto industry in the United States, Europe, Canada, Mexico and the United Kingdom. The company operates through two divisions, ADESA Auctions and AFC. The ADESA Auctions division offers full auto auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
Get a Free Copy of Zacks Research Report on KAR Auction Services
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was created by narrative science technology and MarketBeat financial data to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should You Invest $1,000 in Car Auction Services Right Now?
Before you even consider KAR auction services, you’ll want to hear this.
MarketBeat tracks the top-rated and best performing research analysts on Wall Street and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market goes… KAR Auction Services weren’t on the list.
While KAR Auction Services currently has a “buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View stock 5 here