OPENLANE (NYSE:KAR) Releases FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

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

OPENLANE Trading Down 0.6 %

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

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

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.