Wall Street brokers expect KAR Auction Services, Inc. (NYSE:KAR – Get Rating) to report $573.97 million in sales for the current quarter, according to Zacks. Three analysts have released earnings estimates for KAR Auction Services. The lowest sales estimate is $539.70 million and the highest is $604.40 million. KAR Auction Services recorded sales of $581.60 million in the same quarter last year, which would indicate a negative growth rate of 1.3% year over year. The company is expected to release its next results after the market closes on Monday, January 1.
On average, analysts expect KAR Auction Services to report annual sales of $2.34 billion in the current fiscal year, with estimates ranging from $2.23 billion to $2.47 billion. . For next year, analysts expect the company to post sales of $2.56 billion, with estimates ranging from $2.38 billion to $2.65 billion. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side analysts who track KAR auction services.
KAR Auction Services (NYSE:KAR – Get Rating) last released its quarterly earnings data on Wednesday, February 16. The specialty retailer reported EPS of $0.11 for the quarter, beating Thomson Reuters consensus estimate of $0.05 by $0.06. The company posted revenue of $549.40 million for the quarter, versus a consensus estimate of $506.95 million. KAR Auction Services achieved a return on equity of 8.28% and a net margin of 2.95%. The company’s revenue increased by 3.7% compared to the same quarter last year. During the same quarter last year, the company posted EPS of ($0.01).
A number of stock analysts have recently commented on the company. Guggenheim upgraded KAR Auction Services from a “sell” rating to a “neutral” rating in a Friday, February 25 report. Northcoast Research downgraded shares of KAR Auction Services from a “buy” rating to a “neutral” rating and set a price target of $20.00 for the company. in a research report on Monday, February 28. TheStreet upgraded shares of KAR Auction Services from a “d+” rating to a “c-” rating in a Friday, February 25 research report. Zacks Investment Research downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a Thursday, Jan. 20, research report. Finally, Robert W. Baird raised his price target on KAR Auction Services shares from $18.00 to $25.00 in a Monday, February 28 research report. One analyst gave the stock a sell rating, three gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.80.
NYSE KAR shares opened at $16.37 on Friday. The stock has a market capitalization of $1.98 billion, a price/earnings ratio of 90.94, a PEG ratio of 0.85 and a beta of 1.29. The company has a 50-day moving average of $17.27 and a 200-day moving average of $15.88. The company has a debt ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. KAR Auction Services has a fifty-two week minimum of $11.76 and a fifty-two week maximum of $22.10.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in KAR Auction Services shares by 36.8% in the fourth quarter. BlackRock Inc. now owns 20,141,635 shares of the specialty retailer worth $314,613,000 after purchasing an additional 5,417,707 shares in the last quarter. Snyder Capital Management LP increased its stake in KAR Auction Services shares by 4.7% in the fourth quarter. Snyder Capital Management LP now owns 6,578,317 shares of the specialty retailer worth $102,753,000 after purchasing an additional 292,934 shares in the last quarter. Paradice Investment Management LLC increased 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 valued at $94,840,000 after purchasing an additional 917,466 shares during the period. American Century Companies Inc. increased its stake in KAR Auction Services by 14.2% in the third quarter. American Century Companies Inc. now owns 5,797,703 shares of the specialty retailer valued at $95,024,000 after purchasing an additional 719,088 shares during the period. Finally, Marathon Asset Mgmt Ltd acquired a new position in KAR Auction Services in the fourth quarter worth $86,357,000.
About KAR Auction Services (Get a rating)
KAR Auction Services, Inc, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico and the United Kingdom. United. The Company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment provides whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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