LKQ (NASDAQ:LKQ) Updates FY 2024 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.900-4.200 for the period, compared to the consensus earnings per share estimate of 4.040. The company issued revenue guidance of -. LKQ also updated its FY24 guidance to $3.90 to $4.20 EPS.

LKQ Price Performance

LKQ stock traded up $1.03 during mid-day trading on Wednesday, hitting $42.68. 1,346,023 shares of the stock were exchanged, compared to its average volume of 1,634,452. LKQ has a 12 month low of $41.30 and a 12 month high of $59.38. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 12.24 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 0.53. The business has a fifty day moving average price of $51.21 and a 200 day moving average price of $48.36.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). 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 quarter in the prior year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that LKQ will post 4.07 EPS for the current year.

LKQ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.81%. LKQ’s dividend payout ratio (DPR) is 34.29%.

Analysts Set New Price Targets

A number of analysts have recently commented on LKQ shares. Stifel Nicolaus reissued a buy rating and issued a $66.00 price target on shares of LKQ in a research report on Tuesday, April 9th. Robert W. Baird dropped their price target on LKQ from $58.00 to $54.00 and set an outperform rating on the stock in a research report on Wednesday. Barrington Research reaffirmed an outperform rating and issued a $60.00 price objective on shares of LKQ in a research report on Friday, April 19th. StockNews.com cut LKQ from a buy rating to a hold rating in a report on Friday, February 23rd. Finally, Roth Mkm reiterated a buy rating and issued a $65.00 price target on shares of LKQ in a research note on Tuesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $61.60.

Insider Transactions at LKQ

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 owns 386,522 shares of the company’s stock, valued at approximately $20,087,548.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

LKQ Company Profile

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.