LKQ (NASDAQ:LKQ) Announces Quarterly Earnings Results

LKQ (NASDAQ:LKQ) released its quarterly earnings results on Tuesday. The auto parts company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13), RTT News reports. LKQ had a net margin of 6.75% and a return on equity of 17.24%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $1.04 EPS. LKQ’s revenue for the quarter 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 Trading Down 0.4 %

LKQ stock opened at $48.93 on Tuesday. The firm has a 50 day moving average of $51.21 and a 200 day moving average of $48.36. The firm has a market capitalization of $13.05 billion, a price-to-earnings ratio of 13.98 and a beta of 1.28. LKQ has a 12-month low of $41.49 and a 12-month high of $59.38. The company has a current ratio of 1.47, a quick ratio of 0.53 and a debt-to-equity ratio of 0.59.

LKQ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.45%. LKQ’s dividend payout ratio is 34.29%.

Insider Buying and Selling

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $51.97, for a total value 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 Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LKQ shares. StockNews.com lowered shares of LKQ from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target on shares of LKQ in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reduced their price target on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $60.00 price target on shares of LKQ in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

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.