LKQ (NASDAQ:LKQ) Announces Quarterly Earnings Results

LKQ (NASDAQ:LKQ) released its quarterly earnings data on Tuesday. The auto parts company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.13), RTT News reports. LKQ had a return on equity of 17.24% and a net margin of 6.75%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the business posted $1.04 EPS. The company’s quarterly revenue 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 Stock Down 14.9 %

Shares of NASDAQ:LKQ opened at $41.65 on Wednesday. The stock has a fifty day simple moving average of $51.21 and a two-hundred day simple moving average of $48.36. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 11.90 and a beta of 1.28. LKQ has a 12-month low of $41.46 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.88%. LKQ’s payout ratio is 34.29%.

Analysts Set New Price Targets

LKQ has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Roth Mkm restated a “buy” rating and issued a $65.00 target price on shares of LKQ in a research note on Tuesday. Barrington Research restated an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research note on Friday, April 19th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $66.00 target price on shares of LKQ in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.80.

Insider Buying and Selling at LKQ

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction on Friday, March 1st. The stock was sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the completion of the transaction, the chief executive officer now owns 386,522 shares in the company, valued at $20,087,548.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is owned by company insiders.

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.