OPENLANE (NYSE:KAR) Updates FY 2024 Earnings Guidance

OPENLANE (NYSE:KAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Analyst Ratings Changes

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

OPENLANE Trading Down 0.6 %

OPENLANE stock traded down $0.12 during trading hours on Friday, hitting $19.44. 1,134,767 shares of the stock traded hands, compared to its average volume of 498,336. The firm’s 50-day moving average price is $16.47 and its two-hundred day moving average price is $16.97. The company has a market cap of $2.11 billion, a PE ratio of 74.77, a PEG ratio of 1.84 and a beta of 1.44. OPENLANE has a one year low of $12.86 and a one year high of $19.94.

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, beating 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 firm had revenue of $448.00 million during the quarter, compared to analyst estimates of $431.68 million. During the same period last year, the business earned $0.18 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that OPENLANE will post 0.77 earnings per share for the current fiscal 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.