OPENLANE (KAR) to Release Earnings on Wednesday

OPENLANE (NYSE:KAR) is set to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect OPENLANE to post earnings of $0.21 per share for the quarter. OPENLANE has set its FY24 guidance at $0.77-0.87 EPS and its FY 2024 guidance at 0.770-0.870 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The business had revenue of $431.80 million for the quarter, compared to the consensus estimate of $426.11 million. During the same period in the previous year, the company posted $0.25 earnings per share. OPENLANE’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect OPENLANE to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

OPENLANE Stock Performance

NYSE KAR opened at $16.20 on Tuesday. The business has a 50 day simple moving average of $16.40 and a 200 day simple moving average of $16.93. OPENLANE has a 52-week low of $12.86 and a 52-week high of $18.73. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 108.00, a PEG ratio of 1.67 and a beta of 1.44.

Analyst Upgrades and Downgrades

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

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.