KAR Auction Services (NYSE:KAR) released its quarterly earnings data on Monday. The specialty retailer reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.34, MarketWatch Earnings reports. The business had revenue of $581.60 million during the quarter, compared to analyst estimates of $557.55 million. KAR Auction Services had a return on equity of 6.50% and a net margin of 1.61%. The company’s revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS.
Shares of KAR opened at $16.83 on Thursday. The company has a market capitalization of $2.10 billion, a P/E ratio of 112.20, a P/E/G ratio of 0.92 and a beta of 1.59. KAR Auction Services has a 1-year low of $10.28 and a 1-year high of $20.85. The firm’s 50 day simple moving average is $15.29 and its 200 day simple moving average is $16.95. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.56 and a quick ratio of 1.56.
A number of equities analysts have weighed in on KAR shares. Guggenheim lowered KAR Auction Services from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research note on Wednesday, February 17th. Truist cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Wednesday, February 17th. Zacks Investment Research cut KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, February 18th. Finally, Stephens reaffirmed an “equal weight” rating and set a $16.00 price target (down previously from $23.00) on shares of KAR Auction Services in a research report on Thursday, February 25th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $26.25.
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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