LKQ Co. (NASDAQ:LKQ) to Issue $0.30 Quarterly Dividend

LKQ Co. (NASDAQ:LKQ) announced a quarterly dividend on Tuesday, July 23rd, RTT News reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.30 per share by the auto parts company on Thursday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, August 15th.

LKQ has a dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Analysts expect LKQ to earn $4.11 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 29.2%.

LKQ Price Performance

Shares of LKQ opened at $39.11 on Wednesday. The stock has a market cap of $10.43 billion, a P/E ratio of 12.70 and a beta of 1.29. The business’s fifty day moving average is $41.67 and its 200 day moving average is $45.88. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69. LKQ has a 12-month low of $35.57 and a 12-month high of $54.07.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Sell-side analysts anticipate that LKQ will post 3.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LKQ news, CEO Justin L. Jude acquired 2,500 shares of the company’s stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $39.91 per share, with a total value of $99,775.00. Following the completion of the acquisition, the chief executive officer now directly owns 207,515 shares in the company, valued at $8,281,923.65. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Andrew C. Clarke purchased 7,600 shares of LKQ stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the completion of the transaction, the director now owns 10,519 shares in the company, valued at $417,604.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Justin L. Jude acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $39.91 per share, for a total transaction of $99,775.00. Following the acquisition, the chief executive officer now directly owns 207,515 shares in the company, valued at approximately $8,281,923.65. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 13,084 shares of company stock valued at $521,096. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on LKQ shares. Roth Mkm reissued a “buy” rating and issued a $65.00 price objective on shares of LKQ in a research note on Thursday, July 25th. Barrington Research reiterated an “outperform” rating and set a $60.00 price target on shares of LKQ in a report on Thursday, July 25th. Finally, Robert W. Baird dropped their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.80.

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.