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.

OPENLANE Stock Down 0.6 %

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

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $448.00 million during 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 business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. As a group, sell-side analysts anticipate that OPENLANE will post 0.77 earnings per share for the current year.

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 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.