OPENLANE (NYSE:KAR) Issues 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 Trading Up 6.3 %

KAR stock traded up $1.04 on Wednesday, hitting $17.47. The company had a trading volume of 931,953 shares, compared to its average volume of 476,193. OPENLANE has a 12-month low of $12.86 and a 12-month high of $18.73. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 116.43, a P/E/G ratio of 1.70 and a beta of 1.44. The stock’s 50-day simple moving average is $16.38 and its 200 day simple moving average is $16.93.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The firm had revenue of $431.80 million during the quarter, compared to the consensus estimate of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Research analysts forecast that OPENLANE will post 0.77 earnings per share for the current year.

Analysts Set New Price Targets

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

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.