KAR Auction Services (NYSE:KAR) posted its earnings results on Monday. The specialty retailer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10, Bloomberg Earnings reports. The firm had revenue of $890.40 million during the quarter, compared to the consensus estimate of $882.22 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share.
Shares of KAR Auction Services (NYSE:KAR) traded down $0.62 on Tuesday, hitting $51.40. The stock had a trading volume of 163,191 shares, compared to its average volume of 784,613. KAR Auction Services has a 52 week low of $40.27 and a 52 week high of $55.19. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $7,036.48, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.72%. KAR Auction Services’s dividend payout ratio (DPR) is 82.35%.
Several equities analysts have commented on the company. Stephens set a $57.00 target price on KAR Auction Services and gave the company a “hold” rating in a research report on Wednesday, January 17th. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, November 1st. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. increased their target price on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $54.40.
In other news, EVP Lisa A. Price sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $51.18, for a total transaction of $511,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin Skuy sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Insiders have sold 28,563 shares of company stock valued at $1,448,530 over the last 90 days. 1.30% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in KAR Auction Services stock. The Manufacturers Life Insurance Company increased its holdings in shares of KAR Auction Services Inc (NYSE:KAR) by 9.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,210 shares of the specialty retailer’s stock after purchasing an additional 363 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in KAR Auction Services were worth $177,000 at the end of the most recent quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.
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KAR Auction Services Company Profile
KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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