OPENLANE (KAR) Scheduled to Post Earnings on Wednesday

OPENLANE (NYSE:KAR) is set to release its earnings data after the market closes on Wednesday, May 1st. 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 are interested in registering for the company’s earnings conference call can do so using this link.

OPENLANE (NYSE:KAR) last announced its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. OPENLANE had a negative net margin of 9.37% and a positive return on equity of 7.49%. The company had revenue of $391.30 million during the quarter, compared to the consensus estimate of $392.56 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 5.0% 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 Trading Down 0.1 %

Shares of KAR opened at $17.41 on Tuesday. OPENLANE has a 1 year low of $12.86 and a 1 year high of $17.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a fifty day moving average of $16.49 and a 200-day moving average of $15.15.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KAR. Barrington Research reissued an “outperform” rating and set a $25.00 price target 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 boosted their price target for the company from $16.00 to $20.00 in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.50.

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.