KAR Auction Services (NYSE:KAR) issued an update on its FY 2018 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.89-3.04 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.99. KAR Auction Services also updated its FY18 guidance to $2.89-3.04 EPS.
Shares of KAR traded down $0.43 during midday trading on Wednesday, reaching $57.30. 31,903 shares of the stock were exchanged, compared to its average volume of 848,149. KAR Auction Services has a twelve month low of $47.43 and a twelve month high of $64.55. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $7.81 billion, a P/E ratio of 23.14, a P/E/G ratio of 1.74 and a beta of 1.08.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.70. KAR Auction Services had a return on equity of 26.15% and a net margin of 11.50%. The company had revenue of $933.50 million during the quarter, compared to the consensus estimate of $910.43 million. During the same quarter last year, the firm earned $0.57 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that KAR Auction Services will post 3 earnings per share for the current fiscal year.
A number of research analysts recently commented on KAR shares. Zacks Investment Research downgraded KAR Auction Services from a buy rating to a hold rating in a research note on Tuesday, August 14th. SunTrust Banks set a $70.00 price target on KAR Auction Services and gave the company a buy rating in a research note on Thursday, August 9th. Barrington Research reaffirmed a buy rating on shares of KAR Auction Services in a research note on Monday, August 6th. Stephens reaffirmed a hold rating and issued a $60.00 price target on shares of KAR Auction Services in a research note on Thursday, August 9th. Finally, ValuEngine downgraded KAR Auction Services from a buy rating to a hold rating in a research note on Thursday, October 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $65.29.
In related news, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total value of $629,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Benjamin Skuy sold 59,560 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $62.74, for a total value of $3,736,794.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 277,560 shares of company stock valued at $17,295,354. 1.29% of the stock is owned by insiders.
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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