KAR Auction Services, Inc. (NYSE:KAR) Expected to Report Earnings of $0.09 Per Share

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Brokers expect KAR Auction Services, Inc. (NYSE:KAR) to report earnings per share (EPS) of $0.09 for the current fiscal quarter, Zacks reports. Three analysts released earnings estimates for KAR Auction Services, with the highest EPS estimate at $0.13 and the lowest estimate at $0.02. KAR Auction Services reported earnings of $0.45 per share in the same quarter last year, indicating a negative 80% year-over-year growth rate. The company is due to release its next quarterly earnings report on Tuesday, May 3.

According to Zacks, analysts expect KAR Auction Services to report annual earnings of $0.79 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.90. For the next fiscal year, analysts expect the company to post earnings of $1.45 per share, with EPS estimates ranging from $1.13 to $1.63. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts who provide coverage for KAR Auction Services.

KAR Auction Services (NYSE:KAR) last released its quarterly results on Wednesday, February 16. The specialty retailer reported earnings per share (EPS) of $0.11 for the quarter, beating Thomson Reuters consensus estimate of $0.03 from $0.08. The company posted revenue of $549.40 million in the quarter, versus a consensus estimate of $506.95 million. KAR Auction Services posted a net margin of 2.95% and a return on equity of 8.27%. The company’s revenue for the quarter increased 3.7% year over year. In the same quarter last year, the company made ($0.01) earnings per share.

Several equity analysts have recently published reports on the stock. Zacks Investment Research downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a Thursday, Jan. 20 research note. TheStreet downgraded the shares of KAR Auction Services from a “c-” rating to a “d” rating in a research note on Tuesday, November 2. Finally, Robert W. Baird lowered his target price on KAR Auction Services shares from $22.00 to $18.00 in a research note on Friday. One analyst rated the stock with a sell rating, another assigned a hold rating and two assigned the stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.60.

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KAR stock opened at $13.97 on Friday. The company has a fifty-day moving average price of $14.95 and a 200-day moving average price of $15.68. The company has a market capitalization of $1.69 billion, a P/E ratio of 77.61, a PEG ratio of 0.48 and a beta of 1.41. KAR Auction Services has a 52-week low of $11.76 and a 52-week high of $19.56. The company has a debt ratio of 1.25, a quick ratio of 1.28 and a current ratio of 1.28.

A number of hedge funds and other institutional investors have recently changed their positions in the stock. Snyder Capital Management LP increased its stake in KAR Auction Services by 4.7% during 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. Cardinal Capital Management LLC CT increased its stake in KAR Auction Services by 7.0% in the second quarter. Cardinal Capital Management LLC CT now owns 6,234,712 shares of the specialty retailer worth $109,419,000 after purchasing an additional 409,629 shares during the period. 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 worth $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 worth $95,024,000 after purchasing an additional 719,088 shares during the period. Finally, Marathon Asset Mgmt Ltd acquired a new stake in KAR Auction Services in the fourth quarter at a value of $86,357,000.

About KAR Auction Services

KAR Auction Services, Inc provides used car auction services and salvage auction services in North America and the UK. It operates through the following segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole car auctions and related services to the vehicle remarketing industry in North America.

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

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