LKQ (NASDAQ:LKQ) Announces Earnings Results

LKQ (NASDAQ:LKQ) released its earnings results on Tuesday. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13), RTT News reports. 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 quarter in the prior year, the firm earned $1.04 EPS. The business’s revenue was up 10.6% on a year-over-year basis. LKQ updated its FY 2024 guidance to 3.900-4.200 EPS and its FY24 guidance to $3.90 to $4.20 EPS.

LKQ Price Performance

LKQ stock opened at $41.65 on Wednesday. The stock’s 50 day moving average is $51.21 and its 200 day 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. The firm has a market cap of $11.11 billion, a P/E ratio of 11.90 and a beta of 1.28. LKQ has a one year low of $41.46 and a one year high of $59.38.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.88%. LKQ’s dividend payout ratio is currently 34.29%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other LKQ 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 value 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 $20,087,548.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.45% of the stock is owned by insiders.

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.