LKQ (NASDAQ:LKQ) Posts 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 for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13), RTT News reports. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.04 EPS. LKQ updated its FY 2024 guidance to 3.900-4.200 EPS and its FY24 guidance to $3.90 to $4.20 EPS.

LKQ Stock Performance

Shares of LKQ stock opened at $42.92 on Friday. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 13.94 and a beta of 1.28. The stock’s 50-day moving average is $50.97 and its 200-day moving average is $48.27. LKQ has a one year low of $41.30 and a one year 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.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.80%. LKQ’s dividend payout ratio (DPR) is 38.96%.

Insider Activity

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the company’s 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 owns 386,522 shares in the company, valued at $20,087,548.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LKQ shares. Robert W. Baird cut their price target on LKQ from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on LKQ from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. StockNews.com downgraded LKQ from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective on shares of LKQ in a research note on Tuesday, April 9th. Finally, Roth Mkm reissued 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 issued a buy rating to the company. According to MarketBeat, LKQ presently has an average rating of “Moderate Buy” and a consensus price target of $61.60.

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.