LKQ (NASDAQ:LKQ) Issues Earnings Results

LKQ (NASDAQ:LKQ) announced its quarterly earnings results on Thursday. The auto parts company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.05), Briefing.com reports. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business earned $1.09 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. LKQ updated its FY24 guidance to $3.50-$3.70 EPS and its FY 2024 guidance to 3.500-3.700 EPS.

LKQ Stock Up 3.2 %

Shares of NASDAQ:LKQ traded up $1.23 during mid-day trading on Friday, reaching $40.18. 3,687,813 shares of the stock were exchanged, compared to its average volume of 1,872,164. The stock’s 50 day simple moving average is $42.46 and its 200-day simple moving average is $46.54. LKQ has a one year low of $35.57 and a one year high of $57.73. The company has a market cap of $10.72 billion, a P/E ratio of 13.05 and a beta of 1.29. The company has a quick ratio of 0.68, a current ratio of 1.75 and a debt-to-equity ratio of 0.69.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.99%. LKQ’s payout ratio is 38.96%.

Insider Buying and Selling

In other LKQ news, Director Xavier Urbain sold 867 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $44.50, for a total value of $38,581.50. Following the completion of the transaction, the director now directly owns 15,606 shares in the company, valued at $694,467. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on LKQ. Roth Mkm reiterated a “buy” rating and set a $65.00 price target on shares of LKQ in a research note on Thursday. Barrington Research reissued an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research report on Thursday. Robert W. Baird decreased their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target on shares of LKQ in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, LKQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.80.

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.