OPENLANE (NYSE:KAR – Get Free Report) posted its earnings results on Wednesday. The specialty retailer reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02), Briefing.com reports. OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The firm had revenue of $431.80 million during the quarter, compared to the consensus estimate of $426.11 million. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. OPENLANE updated its FY24 guidance to $0.77-0.87 EPS and its FY 2024 guidance to 0.770-0.870 EPS.
OPENLANE Price Performance
NYSE KAR traded up $0.45 during trading hours on Friday, reaching $17.00. The company’s stock had a trading volume of 772,166 shares, compared to its average volume of 727,637. The firm’s 50-day moving average price is $17.09 and its 200-day moving average price is $16.58. 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 1 year low of $12.86 and a 1 year high of $18.73. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -9.50, a PEG ratio of 1.20 and a beta of 1.44.
Insider Buying and Selling
In related news, EVP James P. Coyle sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.09, for a total value of $108,540.00. Following the transaction, the executive vice president now directly owns 23,885 shares of the company’s stock, valued at approximately $432,079.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.32% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
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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.
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