LKQ (NASDAQ:LKQ) Issues FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

LKQ Stock Down 0.8 %

LKQ opened at $42.92 on Friday. LKQ has a 12 month low of $41.30 and a 12 month high of $59.38. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.70 and a quick ratio of 0.53. The stock has a market cap of $11.45 billion, a P/E ratio of 13.94 and a beta of 1.28. The stock’s 50 day moving average price is $50.85 and its 200 day moving average price is $48.23.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.76 billion. LKQ had a net margin of 5.79% and a return on equity of 15.94%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 earnings per share. As a group, research analysts predict that LKQ will post 3.98 earnings per share for the current year.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Wednesday, May 15th. LKQ’s dividend payout ratio is presently 38.96%.

Wall Street Analyst Weigh In

LKQ has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on LKQ from $65.00 to $63.00 and set an overweight rating for the company in a research note on Thursday, January 25th. Robert W. Baird reduced their target price on LKQ from $58.00 to $54.00 and set an outperform rating for the company in a report on Wednesday. Barrington Research restated an outperform rating and issued a $60.00 target price on shares of LKQ in a report on Friday, April 19th. Roth Mkm restated a buy rating and issued a $65.00 target price on shares of LKQ in a report on Tuesday. Finally, StockNews.com lowered 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 issued a buy rating to the company’s stock. According to MarketBeat, LKQ has an average rating of Moderate Buy and an average price target of $61.60.

Insider Activity

In related news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction dated 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 sale, the chief executive officer now directly owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.55% of the stock is currently 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.