Analysts expect KAR Auction Services Inc (NYSE:KAR) to report $661.65 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for KAR Auction Services' earnings, with the lowest sales estimate coming in at $601.10 million and the highest estimate coming in at $754.64 million. KAR Auction Services posted sales of $701.90 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.7%. The business is scheduled to announce its next earnings report on Tuesday, November 3rd.
On average, analysts expect that KAR Auction Services will report full-year sales of $2.39 billion for the current year, with estimates ranging from $2.30 billion to $2.52 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.74 billion, with estimates ranging from $2.68 billion to $2.80 billion. Zacks Investment Research's sales averages are a mean average based on a survey of research analysts that cover KAR Auction Services.
KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, August 4th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.10) by $0.18. The business had revenue of $419.00 million for the quarter, compared to analysts' expectations of $420.08 million. KAR Auction Services had a return on equity of 5.72% and a net margin of 1.05%. The company's quarterly revenue was down 41.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS.
Several analysts have recently commented on KAR shares. SunTrust Banks raised their target price on KAR Auction Services from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Barrington Research reaffirmed a "buy" rating on shares of KAR Auction Services in a research report on Friday, August 28th. Northcoast Research raised KAR Auction Services from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research report on Thursday, August 13th. Finally, Zacks Investment Research raised KAR Auction Services from a "hold" rating to a "buy" rating and set a $21.00 price objective for the company in a research report on Wednesday, August 19th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. KAR Auction Services presently has a consensus rating of "Hold" and a consensus price target of $20.57.
Shares of KAR Auction Services stock opened at $15.17 on Friday. The stock has a market cap of $1.96 billion, a PE ratio of 79.84, a price-to-earnings-growth ratio of 3.41 and a beta of 1.47. The business has a fifty day simple moving average of $17.01 and a 200-day simple moving average of $14.83. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.19. KAR Auction Services has a 12 month low of $9.41 and a 12 month high of $26.63.
Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of KAR Auction Services by 19.0% in the first quarter. Wellington Management Group LLP now owns 11,137,359 shares of the specialty retailer's stock worth $133,648,000 after buying an additional 1,781,285 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of KAR Auction Services by 5.1% in the first quarter. Schroder Investment Management Group now owns 3,831,209 shares of the specialty retailer's stock worth $41,377,000 after purchasing an additional 184,599 shares during the period. Federated Hermes Inc. increased its stake in shares of KAR Auction Services by 43.1% in the second quarter. Federated Hermes Inc. now owns 2,725,840 shares of the specialty retailer's stock worth $37,508,000 after purchasing an additional 821,393 shares during the period. Bank of New York Mellon Corp increased its stake in shares of KAR Auction Services by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 2,379,265 shares of the specialty retailer's stock worth $28,550,000 after purchasing an additional 105,585 shares during the period. Finally, Alta Capital Management LLC increased its stake in shares of KAR Auction Services by 2.8% in the second quarter. Alta Capital Management LLC now owns 2,376,801 shares of the specialty retailer's stock worth $32,704,000 after purchasing an additional 64,341 shares during the period.
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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