KAR Auction Services, Inc. (NYSE:KAR – Get Rating) – Equities research analysts at Jefferies Financial Group dropped their Q3 2022 earnings estimates for shares of KAR Auction Services in a report issued on Wednesday, August 3rd. Jefferies Financial Group analyst B. Jordan now expects that the specialty retailer will post earnings per share of $0.14 for the quarter, down from their prior estimate 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:KAR – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The specialty retailer reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.17). The business had revenue of $369.40 million for the quarter, compared to the consensus estimate of $559.77 million. KAR Auction Services had a return on equity of 2.17% and a net margin of 11.64%. KAR Auction Services’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 earnings per share.
KAR Auction Services Trading Up 0.3 %
Shares of KAR Auction Services stock opened at $16.28 on Friday. The stock has a market capitalization of $1.98 billion, a P/E ratio of 15.50 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $15.88 and a 200 day simple moving average of $15.87. KAR Auction Services has a 12-month low of $11.76 and a 12-month high of $22.10.
Institutional Trading of KAR Auction Services
Institutional investors and hedge funds have recently made changes to their positions in the business. City State Bank bought a new stake in shares of KAR Auction Services during the 4th quarter valued at $34,000. US Bancorp DE raised its position 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 valued at $44,000 after acquiring an additional 2,050 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of KAR Auction Services during the 1st quarter valued at $67,000. KBC Group NV bought a new stake in shares of KAR Auction Services during the 2nd quarter valued at $158,000. Finally, Bailard Inc. bought a new stake in shares of KAR Auction Services during the 2nd quarter valued at $173,000.
Insider Buying and Selling
In related news, Director J Mark Howell acquired 15,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $198,900.00. Following the transaction, the director now directly owns 15,300 shares of the company’s stock, valued at approximately $198,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other KAR Auction Services news, CEO Peter J. Kelly bought 45,958 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was bought at an average price of $13.10 per share, for a total transaction of $602,049.80. Following the transaction, the chief executive officer now owns 274,978 shares of the company’s stock, valued at approximately $3,602,211.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Mark Howell bought 15,300 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 15,300 shares in the company, valued at approximately $198,900. The disclosure for this purchase can be found here. Insiders purchased 166,258 shares of company stock worth $2,189,450 in the last quarter. Insiders own 2.00% of the company’s stock.
KAR Auction Services Company Profile
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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