KAR Auction Services, Inc. (NYSE:KAR) to Post FY2022 Earnings of $0.45 Per Share, Jefferies Financial Group Forecasts

KAR Auction Services, Inc. (NYSE:KARGet Rating) – Stock analysts at Jefferies Financial Group dropped their FY2022 earnings per share (EPS) estimates for KAR Auction Services in a research note issued on Wednesday, May 4th. Jefferies Financial Group analyst B. Jordan now anticipates that the specialty retailer will post earnings per share of $0.45 for the year, down from their prior forecast of $0.73. Jefferies Financial Group also issued estimates for KAR Auction Services’ Q4 2022 earnings at $0.19 EPS.

Several other equities analysts have also recently weighed in on the company. TheStreet cut KAR Auction Services from a “c” rating to a “d+” rating in a research note on Wednesday, May 4th. CJS Securities upgraded KAR Auction Services from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Wednesday, May 4th. Robert W. Baird decreased their price target on KAR Auction Services from $25.00 to $22.00 in a research report on Thursday. Zacks Investment Research lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, StockNews.com downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Friday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.83.

KAR stock opened at $13.23 on Monday. KAR Auction Services has a 1 year low of $11.76 and a 1 year high of $22.10. The company’s 50-day moving average is $17.33 and its 200-day moving average is $15.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 1.13. The stock has a market capitalization of $1.61 billion, a PE ratio of -82.69, a price-to-earnings-growth ratio of 0.70 and a beta of 1.34.

KAR Auction Services (NYSE:KARGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The specialty retailer reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The firm had revenue of $369.40 million during the quarter, compared to the consensus estimate of $559.77 million. KAR Auction Services had a net margin of 0.75% and a return on equity of 3.35%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share.

A number of large investors have recently modified their holdings of KAR. GSA Capital Partners LLP bought a new stake in shares of KAR Auction Services during the 3rd quarter valued at $4,596,000. Barclays PLC increased its position in shares of KAR Auction Services by 55.5% during the third quarter. Barclays PLC now owns 197,756 shares of the specialty retailer’s stock valued at $3,241,000 after buying an additional 70,552 shares during the period. New York State Teachers Retirement System increased its position in shares of KAR Auction Services by 84.1% during the fourth quarter. New York State Teachers Retirement System now owns 64,967 shares of the specialty retailer’s stock valued at $1,015,000 after buying an additional 29,669 shares during the period. Trexquant Investment LP purchased a new stake in shares of KAR Auction Services in the third quarter worth about $387,000. Finally, Candlestick Capital Management LP bought a new position in shares of KAR Auction Services in the third quarter valued at approximately $15,161,000.

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.

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Earnings History and Estimates for KAR Auction Services (NYSE:KAR)

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