November 8, 2019 at 5:37 pm

KAR Auction Services (NYSE:KAR) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS


KAR Auction Services (NYSE:KAR) posted its earnings results on Tuesday. The specialty retailer reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04), reports. KAR Auction Services had a net margin of 6.95% and a return on equity of 16.83%. The company had revenue of $701.90 million during the quarter, compared to analyst estimates of $697.46 million. During the same quarter last year, the business posted $0.70 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. KAR Auction Services updated its FY19 guidance to $1.12-1.22 EPS.

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KAR stock traded down $0.17 during midday trading on Friday, hitting $21.50. The company’s stock had a trading volume of 2,521,742 shares, compared to its average volume of 2,191,566. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.00. KAR Auction Services has a 52-week low of $16.41 and a 52-week high of $28.61. The firm has a market capitalization of $2.86 billion, a P/E ratio of 7.26, a PEG ratio of 1.43 and a beta of 1.06. The firm has a 50-day simple moving average of $24.65 and a 200-day simple moving average of $36.29.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be given a $0.19 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.76 annualized dividend and a yield of 3.53%. KAR Auction Services’s dividend payout ratio is presently 25.68%.

KAR has been the subject of several recent research reports. Zacks Investment Research cut shares of KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research report on Friday. ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, CJS Securities cut shares of KAR Auction Services from an “outperform” rating to a “market perform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $33.58.

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: Monthly Dividend Stocks

Earnings History for KAR Auction Services (NYSE:KAR)

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