KAR Auction Services Inc (NYSE:KAR) – Investment analysts at Barrington Research cut their Q2 2020 earnings per share estimates for KAR Auction Services in a research note issued on Thursday, August 8th. Barrington Research analyst G. Prestopino now expects that the specialty retailer will earn $0.33 per share for the quarter, down from their prior estimate of $0.44. Barrington Research has a “Buy” rating and a $42.50 price objective on the stock.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, August 6th. The specialty retailer reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). KAR Auction Services had a return on equity of 19.93% and a net margin of 7.67%. The firm had revenue of $719.00 million for the quarter, compared to analyst estimates of $692.00 million. During the same quarter last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis.
KAR opened at $24.94 on Monday. The business’s 50-day moving average price is $28.36. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.14 and a quick ratio of 1.17. KAR Auction Services has a one year low of $16.41 and a one year high of $27.15. The firm has a market capitalization of $3.35 billion, a PE ratio of 8.43, a P/E/G ratio of 1.32 and a beta of 1.08.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in KAR Auction Services by 46.2% in the 1st quarter. BlackRock Inc. now owns 10,730,329 shares of the specialty retailer’s stock valued at $550,575,000 after acquiring an additional 3,392,759 shares during the period. Boston Partners increased its position in KAR Auction Services by 4.4% in the 1st quarter. Boston Partners now owns 5,713,376 shares of the specialty retailer’s stock valued at $293,153,000 after acquiring an additional 243,015 shares during the period. Mawer Investment Management Ltd. increased its position in KAR Auction Services by 7.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 3,978,332 shares of the specialty retailer’s stock worth $99,458,000 after purchasing an additional 290,995 shares during the period. Janus Henderson Group PLC increased its position in KAR Auction Services by 44.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,416,468 shares of the specialty retailer’s stock worth $85,412,000 after purchasing an additional 1,052,915 shares during the period. Finally, Bessemer Group Inc. increased its position in KAR Auction Services by 9.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,719,450 shares of the specialty retailer’s stock worth $67,988,000 after purchasing an additional 229,719 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 20th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 47.30%.
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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