OPENLANE (NYSE:KAR) Posts Earnings Results, Beats Expectations By $0.04 EPS

OPENLANE (NYSE:KAR - Get Free Report) posted its quarterly earnings data on Wednesday. The specialty retailer reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.04, Briefing.com reports. OPENLANE had a return on equity of 8.66% and a net margin of 4.26%. The company had revenue of $448.00 million during the quarter, compared to analyst estimates of $431.68 million. During the same quarter last year, the company earned $0.18 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. OPENLANE updated its FY24 guidance to $0.81-$0.87 EPS and its FY 2024 guidance to 0.810-0.870 EPS.

OPENLANE Stock Down 0.6 %

Shares of KAR stock opened at $19.44 on Friday. The company has a 50 day moving average price of $16.47 and a 200-day moving average price of $16.97. OPENLANE has a 52 week low of $12.86 and a 52 week high of $19.94. The firm has a market capitalization of $2.11 billion, a PE ratio of 74.77, a P/E/G ratio of 1.84 and a beta of 1.44.

Wall Street Analysts Forecast Growth

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

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.