KAR Auction Services (KAR) Updates FY19 Earnings Guidance

KAR Auction Services (NYSE:KAR) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.90-3.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.99.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded KAR Auction Services from a sell rating to a hold rating in a research report on Thursday, April 25th. Barrington Research restated a buy rating and issued a $62.50 price objective on shares of KAR Auction Services in a research report on Friday, May 3rd. Finally, Robert W. Baird restated a buy rating and issued a $56.00 price objective on shares of KAR Auction Services in a research report on Wednesday, February 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $61.50.

Shares of KAR stock opened at $56.22 on Friday. KAR Auction Services has a 12-month low of $43.32 and a 12-month high of $64.55. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $7.58 billion, a PE ratio of 18.99, a PEG ratio of 2.01 and a beta of 1.14.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.07). KAR Auction Services had a return on equity of 25.43% and a net margin of 8.17%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts predict that KAR Auction Services will post 2.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.40 annualized dividend and a dividend yield of 2.49%. KAR Auction Services’s dividend payout ratio (DPR) is 47.30%.

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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 and Estimates for KAR Auction Services (NYSE:KAR)

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