OPENLANE (NYSE:KAR) Releases FY24 Earnings Guidance

OPENLANE (NYSE:KAR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.81-$0.87 for the period, compared to the consensus estimate of $0.79. OPENLANE also updated its FY 2024 guidance to 0.810-0.870 EPS.

OPENLANE Price Performance

Shares of KAR stock traded down $0.12 during trading hours on Friday, reaching $19.44. The company had a trading volume of 1,134,767 shares, compared to its average volume of 498,336. The company has a 50 day moving average of $16.47 and a 200 day moving average of $16.97. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 74.77, a P/E/G ratio of 1.84 and a beta of 1.44. OPENLANE has a 1-year low of $12.86 and a 1-year high of $19.94.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. OPENLANE had a return on equity of 8.66% and a net margin of 4.26%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, sell-side analysts forecast that OPENLANE will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research note on Monday, November 4th.

OPENLANE Company Profile

OPENLANE, Inc, together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles.