KAR Auction Services (NYSE:KAR) Releases Quarterly Earnings Results

KAR Auction Services (NYSE:KAR) announced its quarterly earnings results on Tuesday. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.04), Briefing.com reports. KAR Auction Services had a net margin of 6.95% and a return on equity of 16.83%. The business had revenue of $701.90 million during the quarter, compared to analysts’ expectations of $697.46 million. During the same period last year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. KAR Auction Services updated its FY19 guidance to $1.12-1.22 EPS.

Shares of KAR Auction Services stock traded down $0.17 during trading hours on Friday, hitting $21.50. The company’s stock had a trading volume of 2,521,742 shares, compared to its average volume of 2,191,566. The business has a 50 day moving average price of $24.65 and a two-hundred day moving average price of $36.29. KAR Auction Services has a 12-month low of $16.41 and a 12-month high of $28.61. The company has a market cap of $2.86 billion, a PE ratio of 7.26, a PEG ratio of 1.43 and a beta of 1.06. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.14 and a current ratio of 1.14.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.76 annualized dividend and a dividend yield of 3.53%. KAR Auction Services’s payout ratio is 25.68%.

KAR has been the topic of several recent research reports. Zacks Investment Research downgraded shares of KAR Auction Services from a “strong-buy” rating to a “hold” rating in a report on Friday. CJS Securities cut KAR Auction Services from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, ValuEngine raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $33.58.

KAR Auction Services Company Profile

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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