KAR Auction Services, Inc. Forecasted to Earn Q3 2022 Earnings of $0.14 Per Share (NYSE:KAR)

KAR Auction Services, Inc. (NYSE:KARGet Rating) – Equities researchers at Jefferies Financial Group lowered their Q3 2022 earnings estimates for KAR Auction Services in a research note issued to investors on Wednesday, August 3rd. Jefferies Financial Group analyst B. Jordan now anticipates that the specialty retailer will earn $0.14 per share for the quarter, down from their previous forecast of $0.17. The consensus estimate for KAR Auction Services’ current full-year earnings is $0.41 per share. Jefferies Financial Group also issued estimates for KAR Auction Services’ Q4 2022 earnings at $0.17 EPS, Q1 2023 earnings at $0.13 EPS, Q2 2023 earnings at $0.19 EPS, Q4 2023 earnings at $0.19 EPS and FY2023 earnings at $0.71 EPS.

KAR Auction Services (NYSE:KARGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The specialty retailer reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.17). KAR Auction Services had a return on equity of 2.17% and a net margin of 11.64%. The company had revenue of $369.40 million during the quarter, compared to the consensus estimate of $559.77 million. During the same quarter last year, the firm earned $0.45 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis.

Several other research analysts have also recently weighed in on the stock. CJS Securities upgraded shares of KAR Auction Services from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Wednesday, May 4th. Robert W. Baird dropped their target price on shares of KAR Auction Services from $25.00 to $22.00 in a research report on Thursday, May 5th. StockNews.com upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Friday. Finally, TheStreet cut shares of KAR Auction Services from a “c” rating to a “d+” rating in a research report on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.67.

KAR Auction Services Stock Performance

KAR stock opened at $16.28 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 1.21. The company has a 50 day moving average price of $15.88 and a 200 day moving average price of $15.87. KAR Auction Services has a fifty-two week low of $11.76 and a fifty-two week high of $22.10. The stock has a market capitalization of $1.98 billion, a PE ratio of 15.50 and a beta of 1.33.

Insider Buying and Selling

In related news, Director J Mark Howell bought 15,300 shares of KAR Auction Services stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average cost of $13.00 per share, with a total value of $198,900.00. Following the purchase, the director now owns 15,300 shares in the company, valued at $198,900. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other KAR Auction Services news, Director Michael T. Kestner acquired 5,000 shares of KAR Auction Services stock in a transaction dated Thursday, May 19th. The stock was bought at an average cost of $14.70 per share, for a total transaction of $73,500.00. Following the purchase, the director now directly owns 10,922 shares in the company, valued at approximately $160,553.40. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Mark Howell acquired 15,300 shares of KAR Auction Services stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $13.00 per share, with a total value of $198,900.00. Following the completion of the purchase, the director now owns 15,300 shares in the company, valued at $198,900. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 166,258 shares of company stock valued at $2,189,450. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On KAR Auction Services

Large investors have recently modified their holdings of the business. City State Bank acquired a new position in shares of KAR Auction Services during the 4th quarter worth about $34,000. US Bancorp DE boosted its stake in shares of KAR Auction Services by 228.8% during the 2nd quarter. US Bancorp DE now owns 2,946 shares of the specialty retailer’s stock worth $44,000 after buying an additional 2,050 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in KAR Auction Services in the 1st quarter valued at about $67,000. KBC Group NV acquired a new stake in KAR Auction Services in the 2nd quarter valued at about $158,000. Finally, Natixis Advisors L.P. acquired a new stake in KAR Auction Services in the 1st quarter valued at about $206,000.

KAR Auction Services Company Profile

(Get Rating)

KAR Auction Services, Inc, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions 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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Earnings History and Estimates for KAR Auction Services (NYSE:KAR)

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