LKQ (NASDAQ:LKQ) Announces Quarterly Earnings Results, Misses Estimates By $0.13 EPS

LKQ (NASDAQ:LKQ) posted its quarterly earnings results on Tuesday. The auto parts company reported $0.82 earnings per share (EPS) 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 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 previous year, the business earned $1.04 earnings per share. LKQ’s 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 Trading Down 0.4 %

NASDAQ LKQ opened at $48.93 on Tuesday. LKQ has a fifty-two week low of $41.49 and a fifty-two week high of $59.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.53 and a current ratio of 1.47. The stock has a 50 day simple moving average of $51.21 and a two-hundred day simple moving average of $48.36. The stock has a market cap of $13.05 billion, a P/E ratio of 13.98 and a beta of 1.28.

LKQ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.45%. LKQ’s dividend payout ratio (DPR) is currently 34.29%.

Insiders Place Their Bets

In other news, CEO Dominick P. Zarcone sold 200,000 shares of the firm’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 completion of the transaction, the chief executive officer now owns 386,522 shares in the company, valued at approximately $20,087,548.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LKQ. Stifel Nicolaus restated a “buy” rating and set a $66.00 price target on shares of LKQ in a research 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 research report on Thursday, January 25th. StockNews.com lowered LKQ from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Barrington Research reiterated an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a report on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, LKQ currently has an average rating of “Moderate Buy” and an average target price of $63.50.

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.