OPENLANE (NYSE:KAR) Releases FY 2024 Earnings Guidance

OPENLANE (NYSE:KAR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.810-0.870 for the period, compared to the consensus earnings per share estimate of 0.790. The company issued revenue guidance of -. OPENLANE also updated its FY24 guidance to $0.81-$0.87 EPS.

OPENLANE Stock Performance

KAR stock traded down $0.12 during midday trading on Friday, hitting $19.44. 1,134,767 shares of the company’s stock were exchanged, compared to its average volume of 498,336. OPENLANE has a one year low of $12.86 and a one year high of $19.94. The stock’s fifty day moving average price is $16.47 and its 200-day moving average price is $16.97. The company has a market cap of $2.11 billion, a PE ratio of 74.77, a price-to-earnings-growth ratio of 1.84 and a beta of 1.44.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $448.00 million during the quarter, compared to analyst estimates of $431.68 million. OPENLANE had a return on equity of 8.66% and a net margin of 4.26%. OPENLANE’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, analysts expect that OPENLANE will post 0.77 EPS for the current year.

Wall Street Analyst Weigh In

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

About OPENLANE

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.