OPENLANE (NYSE:KAR) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

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

OPENLANE Trading Down 0.6 %

NYSE KAR traded down $0.12 during trading hours on Friday, reaching $19.44. 1,134,767 shares of the company’s stock were exchanged, compared to its average volume of 498,336. The firm has a fifty day moving average of $16.47 and a 200-day moving average of $16.97. OPENLANE has a one year low of $12.86 and a one year high of $19.94. The stock 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 posted its quarterly earnings data 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 return on equity of 8.66% and a net margin of 4.26%. The firm had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. During the same quarter in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that OPENLANE will post 0.77 EPS for the current year.

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.