Analysts forecast that KAR Auction Services Inc (NYSE:KAR) will report $693.76 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for KAR Auction Services’ earnings. The highest sales estimate is $709.23 million and the lowest is $682.00 million. KAR Auction Services reported sales of $956.60 million during the same quarter last year, which indicates a negative year over year growth rate of 27.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that KAR Auction Services will report full year sales of $2.71 billion for the current year, with estimates ranging from $2.67 billion to $2.74 billion. For the next year, analysts expect that the business will post sales of $2.83 billion, with estimates ranging from $2.75 billion to $2.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow KAR Auction Services.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.07). 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 firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share.
Several hedge funds have recently bought and sold shares of KAR. BlackRock Inc. raised its position in shares of KAR Auction Services by 46.2% in the 1st quarter. BlackRock Inc. now owns 10,730,329 shares of the specialty retailer’s stock worth $550,575,000 after acquiring an additional 3,392,759 shares in the last quarter. First Manhattan Co. increased its position in KAR Auction Services by 63.5% in the 1st quarter. First Manhattan Co. now owns 3,261,519 shares of the specialty retailer’s stock valued at $167,348,000 after buying an additional 1,266,287 shares in the last quarter. Norges Bank bought a new stake in KAR Auction Services in the 4th quarter valued at about $58,745,000. Clarkston Capital Partners LLC bought a new stake in KAR Auction Services in the 1st quarter valued at about $28,141,000. Finally, Janus Henderson Group PLC increased its position in KAR Auction Services by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,363,553 shares of the specialty retailer’s stock valued at $121,274,000 after buying an additional 490,159 shares in the last quarter. 99.90% of the stock is owned by hedge funds and other institutional investors.
KAR traded up $0.10 during midday trading on Friday, hitting $25.13. 3,211,566 shares of the company were exchanged, compared to its average volume of 3,465,362. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 2.04 and a beta of 1.10. KAR Auction Services has a 1-year low of $16.41 and a 1-year high of $26.00. The business has a 50 day moving average price of $44.69. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.17 and a quick ratio of 1.17.
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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