LKQ (NASDAQ:LKQ) Issues Quarterly Earnings Results

LKQ (NASDAQ:LKQ) announced its quarterly earnings results on Tuesday. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13), RTT News reports. LKQ had a return on equity of 15.94% and a net margin of 5.79%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the company earned $1.04 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. LKQ updated its FY 2024 guidance to 3.900-4.200 EPS and its FY24 guidance to $3.90 to $4.20 EPS.

LKQ Stock Up 3.9 %

LKQ stock opened at $43.28 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.70 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average price of $51.08 and a two-hundred day moving average price of $48.30. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 14.05 and a beta of 1.28. LKQ has a twelve month low of $41.30 and a twelve month high of $59.38.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.77%. LKQ’s dividend payout ratio is 38.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LKQ shares. Roth Mkm restated a “buy” rating and issued a $65.00 price target on shares of LKQ in a report on Tuesday. Barrington Research restated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a report on Friday, April 19th. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price target on shares of LKQ in a report on Tuesday, April 9th. Robert W. Baird lowered their price target on LKQ from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, LKQ currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

Insider Buying and Selling at LKQ

In related news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the completion of the sale, the chief executive officer now directly owns 386,522 shares of the company’s stock, valued at approximately $20,087,548.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

About LKQ

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.