LKQ (NASDAQ:LKQ) Updates FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

Several research firms have commented on LKQ. JPMorgan Chase & Co. decreased their price target on shares of LKQ from $65.00 to $63.00 and set an overweight rating for the company in a research report on Thursday, January 25th. StockNews.com lowered shares of LKQ from a buy rating to a hold rating in a research report on Friday, February 23rd. Barrington Research reissued an outperform rating and set a $60.00 price target on shares of LKQ in a research report on Friday. Finally, Stifel Nicolaus reissued a buy rating and set a $66.00 price target on shares of LKQ in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $63.50.

LKQ Stock Performance

Shares of LKQ stock traded down $6.29 during midday trading on Tuesday, hitting $42.64. The company had a trading volume of 946,710 shares, compared to its average volume of 1,521,170. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 12.69 and a beta of 1.28. 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 company has a fifty day simple moving average of $51.21 and a 200 day simple moving average of $48.36. LKQ has a 12-month low of $41.49 and a 12-month high of $59.38.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Tuesday, April 23rd. The auto parts company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. LKQ had a net margin of 6.75% and a return on equity of 17.24%. 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 earned $1.04 earnings per share. As a group, analysts predict that LKQ will post 4.07 earnings per share for the current fiscal year.

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 given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. LKQ’s payout ratio is currently 34.29%.

Insider Activity at LKQ

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the completion of 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 is accessible through this link. 0.45% of the stock is currently 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.