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

LKQ Co. (NASDAQ:LKQ) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.30 per share by the auto parts company on Thursday, May 30th. This represents a $1.20 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, May 15th.

LKQ has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect LKQ to earn $4.49 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 26.7%.

LKQ Price Performance

Shares of LKQ opened at $41.87 on Wednesday. The company has a 50 day moving average of $51.21 and a 200-day moving average of $48.36. The company has a quick ratio of 0.53, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $11.17 billion, a P/E ratio of 11.90 and a beta of 1.28. LKQ has a twelve month low of $41.46 and a twelve month high of $59.38.

LKQ (NASDAQ:LKQ) last released 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 net margin of 6.75% and a return on equity of 17.24%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the business posted $1.04 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that LKQ will post 4.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LKQ shares. Barrington Research reiterated an “outperform” rating and set a $60.00 target price on shares of LKQ in a report on Friday, April 19th. Robert W. Baird dropped their price objective on LKQ from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com cut shares of LKQ from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of LKQ in a report on Tuesday, April 9th. 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

Insider Activity

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the business’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 transaction of $10,394,000.00. Following the transaction, the chief executive officer now directly owns 386,522 shares of the company’s stock, valued at approximately $20,087,548.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.