LKQ (NASDAQ:LKQ) Updates FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.90 to $4.20 for the period, compared to the consensus earnings per share estimate of $4.08. The company issued revenue guidance of +2.5 to 4.5% yr/yr or $14.213 billion to $14.49 billion fr, compared to the consensus revenue estimate of $15.26 billion. LKQ also updated its FY 2024 guidance to 3.900-4.200 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Roth Mkm reissued a buy rating and set a $65.00 price objective on shares of LKQ in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of LKQ from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Thursday, January 25th. Stifel Nicolaus reiterated a buy rating and issued a $66.00 price target on shares of LKQ in a research note on Tuesday, April 9th. Robert W. Baird dropped their price target on shares of LKQ from $58.00 to $54.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, Barrington Research reiterated an outperform rating and issued a $60.00 price target on shares of LKQ in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, LKQ presently has a consensus rating of Moderate Buy and a consensus target price of $61.60.

LKQ Trading Up 2.4 %

Shares of NASDAQ:LKQ traded up $1.00 on Wednesday, hitting $42.65. 1,816,553 shares of the company’s stock were exchanged, compared to its average volume of 1,640,129. LKQ has a 12 month low of $41.30 and a 12 month high of $59.38. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 12.24 and a beta of 1.28. The business’s 50 day simple moving average is $51.21 and its two-hundred day simple moving average is $48.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 0.53.

LKQ (NASDAQ:LKQ) last posted its earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13). LKQ had a net margin of 6.75% and a return on equity of 17.24%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the firm earned $1.04 EPS. LKQ’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts anticipate that LKQ will post 4.07 EPS for the current fiscal year.

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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, May 15th. LKQ’s dividend payout ratio (DPR) is 34.29%.

Insider Buying and Selling

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $51.97, for a total value of $10,394,000.00. Following the sale, the chief executive officer now owns 386,522 shares in the company, valued at approximately $20,087,548.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.45% 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.