OPENLANE (KAR) to Release Earnings on Wednesday

OPENLANE (NYSE:KAR) will 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

OPENLANE (NYSE:KAR) last posted 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 for the quarter, compared to analysts’ expectations of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. OPENLANE’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, analysts expect OPENLANE to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

OPENLANE Price Performance

NYSE KAR opened at $16.30 on Wednesday. The stock’s 50 day simple moving average is $16.53 and its 200-day simple moving average is $16.98. The company has a market cap of $1.77 billion, a PE ratio of -9.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.44. OPENLANE has a 1-year low of $12.86 and a 1-year high of $18.73.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, September 20th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, OPENLANE currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

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.