Northcoast Research Comments on KAR Auction Services Inc’s Q2 2019 Earnings (KAR)

KAR Auction Services Inc (NYSE:KAR) – Equities research analysts at Northcoast Research upped their Q2 2019 earnings estimates for shares of KAR Auction Services in a research report issued to clients and investors on Monday, March 11th. Northcoast Research analyst J. Healy now anticipates that the specialty retailer will post earnings of $0.89 per share for the quarter, up from their prior forecast of $0.87. Northcoast Research also issued estimates for KAR Auction Services’ Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.65 EPS and FY2020 earnings at $3.42 EPS.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, February 19th. The specialty retailer reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $936.37 million. KAR Auction Services had a return on equity of 26.46% and a net margin of 8.70%.

A number of other research analysts also recently weighed in on KAR. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Barrington Research restated a “buy” rating on shares of KAR Auction Services in a research note on Wednesday, February 20th. ValuEngine upgraded KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. SunTrust Banks decreased their price target on KAR Auction Services to $65.00 and set a “buy” rating for the company in a research note on Monday, January 7th. Finally, Robert W. Baird restated a “buy” rating and issued a $56.00 price target on shares of KAR Auction Services in a research note on Wednesday, February 20th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $63.00.

KAR stock opened at $48.59 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.56 and a beta of 1.10. KAR Auction Services has a twelve month low of $43.32 and a twelve month high of $64.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 22nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.88%. KAR Auction Services’s payout ratio is 47.30%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in shares of KAR Auction Services by 2.1% in the third quarter. Vanguard Group Inc now owns 12,750,324 shares of the specialty retailer’s stock valued at $761,067,000 after buying an additional 260,521 shares during the last quarter. BlackRock Inc. lifted its position in shares of KAR Auction Services by 6.1% in the third quarter. BlackRock Inc. now owns 7,967,066 shares of the specialty retailer’s stock valued at $475,555,000 after buying an additional 460,114 shares during the last quarter. Boston Partners lifted its position in shares of KAR Auction Services by 98.1% in the fourth quarter. Boston Partners now owns 5,470,361 shares of the specialty retailer’s stock valued at $261,045,000 after buying an additional 2,708,310 shares during the last quarter. Mawer Investment Management Ltd. lifted its position in shares of KAR Auction Services by 3.2% in the fourth quarter. Mawer Investment Management Ltd. now owns 3,619,199 shares of the specialty retailer’s stock valued at $172,708,000 after buying an additional 113,050 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of KAR Auction Services by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 2,696,409 shares of the specialty retailer’s stock valued at $160,949,000 after buying an additional 69,743 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

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.

Further Reading: Do back-end load funds outperform no-load funds?

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

Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.