LKQ (NASDAQ:LKQ) Releases FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.90 to $4.20 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LKQ shares. Barrington Research restated an outperform rating and issued a $60.00 price objective on shares of LKQ in a research report on Friday, April 19th. Robert W. Baird dropped their target price on shares of LKQ from $58.00 to $54.00 and set an outperform rating on the stock in a research note on Wednesday. StockNews.com downgraded shares of LKQ from a buy rating to a hold rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. dropped their target price on shares of LKQ from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. Finally, Stifel Nicolaus reissued a buy rating and set a $66.00 price objective on shares of LKQ in a report on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $61.60.

LKQ Price Performance

Shares of LKQ traded up $1.00 during mid-day trading on Wednesday, reaching $42.65. The stock had a trading volume of 1,816,553 shares, compared to its average volume of 1,640,129. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 12.24 and a beta of 1.28. LKQ has a 12 month low of $41.30 and a 12 month high of $59.38. The business has a fifty day moving average of $51.21 and a 200 day moving average of $48.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.53 and a current ratio of 1.47.

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

LKQ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend 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 is 34.29%.

Insider Buying and Selling at LKQ

In other news, CEO Dominick P. Zarcone sold 200,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.