KAR Auction Services (KAR) Issues Earnings Results

KAR Auction Services (NYSE:KAR) issued its quarterly earnings data on Tuesday, May 7th. The specialty retailer reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.07), Briefing.com reports. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. KAR Auction Services had a return on equity of 25.43% and a net margin of 8.17%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. KAR Auction Services updated its FY19 guidance to $2.90-3.09 EPS.

NYSE:KAR opened at $57.32 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.17 and a current ratio of 1.17. KAR Auction Services has a one year low of $43.32 and a one year high of $64.55. The stock has a market capitalization of $7.58 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, May 31st. KAR Auction Services’s dividend payout ratio (DPR) is 47.30%.

Several research analysts recently commented on KAR shares. Barrington Research reiterated a “buy” rating and issued a $62.50 price target on shares of KAR Auction Services in a research note on Friday, May 3rd. Robert W. Baird reiterated a “buy” rating and issued a $56.00 price target on shares of KAR Auction Services in a research note on Wednesday, February 20th. Finally, Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.50.

Several large investors have recently added to or reduced their stakes in KAR. Motco increased its holdings in KAR Auction Services by 1,732.4% in the first quarter. Motco now owns 623 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 589 shares during the last quarter. Riverview Trust Co bought a new stake in KAR Auction Services in the fourth quarter valued at about $33,000. Arlington Partners LLC increased its holdings in KAR Auction Services by 70.0% in the first quarter. Arlington Partners LLC now owns 850 shares of the specialty retailer’s stock valued at $44,000 after buying an additional 350 shares during the last quarter. Cornerstone Advisors Inc. bought a new stake in KAR Auction Services in the first quarter valued at about $46,000. Finally, Private Capital Group LLC increased its holdings in KAR Auction Services by 32.8% in the fourth quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock valued at $48,000 after buying an additional 245 shares during the last quarter. Institutional investors and hedge funds own 99.46% of the company’s stock.

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About KAR Auction Services

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, 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 for KAR Auction Services (NYSE:KAR)

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