Analysts Anticipate KAR Auction Services, Inc. (NYSE:KAR) Will Post Quarterly Sales of $573.97 Million

Wall Street brokerages 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 issued estimates for KAR Auction Services’ earnings. The lowest sales estimate is $539.70 million and the highest is $604.40 million. KAR Auction Services posted sales of $581.60 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The business is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that KAR Auction Services will report full year sales of $2.34 billion for the current fiscal year, with estimates ranging from $2.23 billion to $2.47 billion. For the next year, analysts anticipate that the firm will post sales of $2.56 billion, with estimates ranging from $2.38 billion to $2.65 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow KAR Auction Services.

KAR Auction Services (NYSE:KAR – Get Rating) last issued its quarterly earnings data on Wednesday, February 16th. The specialty retailer reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The business had revenue of $549.40 million for the quarter, compared to the consensus estimate of $506.95 million. KAR Auction Services had a return on equity of 8.28% and a net margin of 2.95%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS.

A number of equities analysts recently commented on the company. Guggenheim upgraded KAR Auction Services from a “sell” rating to a “neutral” rating in a report on Friday, February 25th. Northcoast Research downgraded shares of KAR Auction Services from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Monday, February 28th. TheStreet upgraded shares of KAR Auction Services from a “d+” rating to a “c-” rating in a research report on Friday, February 25th. Zacks Investment Research downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, January 20th. Finally, Robert W. Baird raised their price objective on shares of KAR Auction Services from $18.00 to $25.00 in a research report on Monday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.80.

Shares of NYSE KAR opened at $16.37 on Friday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 90.94, a PEG ratio of 0.85 and a beta of 1.29. The business has a 50-day moving average of $17.27 and a 200-day moving average of $15.88. The company has a debt-to-equity 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 low of $11.76 and a fifty-two week high of $22.10.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of KAR Auction Services by 36.8% in the fourth quarter. BlackRock Inc. now owns 20,141,635 shares of the specialty retailer’s stock worth $314,613,000 after purchasing an additional 5,417,707 shares during the last quarter. Snyder Capital Management L P grew its stake in shares of KAR Auction Services by 4.7% in the fourth quarter. Snyder Capital Management L P now owns 6,578,317 shares of the specialty retailer’s stock worth $102,753,000 after purchasing an additional 292,934 shares during the last quarter. Paradice Investment Management LLC lifted its holdings 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’s stock valued at $94,840,000 after buying an additional 917,466 shares during the period. American Century Companies Inc. lifted its holdings 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’s stock valued at $95,024,000 after buying 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 valued at $86,357,000.

About KAR Auction Services (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.

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