OPENLANE (KAR) to Release Quarterly Earnings on Wednesday

OPENLANE (NYSE:KAR) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce 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 participating in the company’s conference call can do so using this link.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $391.30 million for the quarter, compared to the consensus estimate of $392.56 million. OPENLANE had a negative net margin of 9.37% and a positive return on equity of 7.49%. OPENLANE’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. On average, analysts expect OPENLANE to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

OPENLANE Stock Up 3.3 %

Shares of NYSE:KAR opened at $17.57 on Wednesday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -9.61, a PEG ratio of 0.92 and a beta of 1.45. The firm’s 50-day simple moving average is $16.16 and its 200-day simple moving average is $15.06. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. OPENLANE has a fifty-two week low of $12.86 and a fifty-two week high of $17.70.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a report on Wednesday, February 21st. Bank of America raised shares of OPENLANE from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $20.00 in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.50.

Insider Buying and Selling

In related news, insider James E. Money II sold 14,822 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $15.83, for a total transaction of $234,632.26. Following the sale, the insider now owns 44,604 shares of the company’s stock, valued at $706,081.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Peter J. Kelly acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $14.87 per share, with a total value of $148,700.00. Following the completion of the acquisition, the chief executive officer now owns 323,355 shares in the company, valued at $4,808,288.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The disclosure for this sale can be found here. 2.74% of the stock is owned by insiders.

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.