Zacks: Brokerages Anticipate KAR Auction Services, Inc. (NYSE:KAR) to Announce $0.15 Earnings Per Share

Equities research analysts expect KAR Auction Services, Inc. (NYSE:KARGet Rating) to post $0.15 earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for KAR Auction Services’ earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.13. KAR Auction Services posted earnings of $0.45 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 66.7%. The business is scheduled to report its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that KAR Auction Services will report full-year earnings of $0.73 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.84. For the next year, analysts expect that the company will post earnings of $1.03 per share, with EPS estimates ranging from $0.96 to $1.15. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover KAR Auction Services.

KAR Auction Services (NYSE:KARGet Rating) last released its earnings results on Wednesday, February 16th. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $549.40 million during the quarter, compared to the consensus estimate of $506.95 million. KAR Auction Services had a net margin of 2.95% and a return on equity of 8.28%. KAR Auction Services’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share.

KAR has been the subject of several recent research reports. Guggenheim upgraded KAR Auction Services from a “sell” rating to a “neutral” rating in a report on Friday, February 25th. Zacks Investment Research lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, January 20th. StockNews.com started coverage on shares of KAR Auction Services in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Robert W. Baird boosted their target price on shares of KAR Auction Services from $18.00 to $25.00 in a research report on Monday, February 28th. Finally, TheStreet raised shares of KAR Auction Services from a “d+” rating to a “c-” rating in a research report on Friday, February 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.80.

Shares of KAR Auction Services stock traded down $0.44 during trading hours on Friday, reaching $16.51. The stock had a trading volume of 19,635 shares, compared to its average volume of 1,908,853. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 91.78, a P/E/G ratio of 0.85 and a beta of 1.29. KAR Auction Services has a 1 year low of $11.76 and a 1 year high of $22.10. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm has a 50 day simple moving average of $17.18 and a two-hundred day simple moving average of $15.87.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in KAR Auction Services by 36.8% during the 4th quarter. BlackRock Inc. now owns 20,141,635 shares of the specialty retailer’s stock worth $314,613,000 after buying an additional 5,417,707 shares in the last quarter. Snyder Capital Management L P raised its stake in KAR Auction Services by 4.7% during the 4th quarter. Snyder Capital Management L P now owns 6,578,317 shares of the specialty retailer’s stock worth $102,753,000 after buying an additional 292,934 shares during the period. Paradice Investment Management LLC increased its stake in KAR Auction Services by 17.8% during the 4th quarter. Paradice Investment Management LLC now owns 6,071,673 shares of the specialty retailer’s stock worth $94,840,000 after purchasing an additional 917,466 shares in the last quarter. American Century Companies Inc. raised its holdings in KAR Auction Services by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 5,797,703 shares of the specialty retailer’s stock worth $95,024,000 after buying an additional 719,088 shares during the period. Finally, Marathon Asset Mgmt Ltd bought a new position in KAR Auction Services in the fourth quarter valued at approximately $86,357,000.

KAR Auction Services Company Profile (Get 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. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

Recommended Stories

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.