LKQ (LKQ) Posts Quarterly Earnings Results, Hits Estimates

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LKQ (NASDAQ:LKQ) announced its earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.56, MarketWatch Earnings reports. LKQ had a return on equity of 14.55% and a net margin of 5.01%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.12 billion. LKQ updated its FY 2018 guidance to $2.19-2.25 EPS.

Shares of NASDAQ:LKQ traded down $0.93 during midday trading on Friday, reaching $27.73. The company’s stock had a trading volume of 2,685,715 shares, compared to its average volume of 3,697,872. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.65 and a quick ratio of 1.04. LKQ has a fifty-two week low of $25.35 and a fifty-two week high of $43.86.

Several equities analysts have recently issued reports on the company. BidaskClub lowered LKQ from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 26th. Zacks Investment Research downgraded LKQ from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. ValuEngine downgraded LKQ from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Raymond James cut their price objective on LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Finally, Barrington Research reaffirmed a “buy” rating and set a $45.00 target price on shares of LKQ in a report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. LKQ currently has a consensus rating of “Buy” and a consensus target price of $43.25.

LKQ declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 25th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, VP Varun Laroyia bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $26.50 per share, with a total value of $26,500.00. Following the transaction, the vice president now directly owns 75,673 shares of the company’s stock, valued at approximately $2,005,334.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dominick P. Zarcone bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $26.55 per share, with a total value of $53,100.00. Following the completion of the transaction, the insider now directly owns 259,080 shares in the company, valued at $6,878,574. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.

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LKQ Company Profile

LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; 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.

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Earnings History for LKQ (NASDAQ:LKQ)

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