LKQ (NASDAQ:LKQ) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

LKQ (NASDAQ:LKQ) posted 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 return on equity of 15.94% and a net margin of 5.79%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the prior year, the business earned $1.09 EPS. The company’s quarterly revenue 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 Trading Up 3.2 %

Shares of LKQ stock traded up $1.23 on Friday, hitting $40.18. 3,687,811 shares of the stock traded hands, compared to its average volume of 1,796,487. The firm’s 50-day moving average price is $42.55 and its two-hundred day moving average price is $46.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 1.70. The stock has a market capitalization of $10.72 billion, a PE ratio of 12.92 and a beta of 1.29. LKQ has a twelve month low of $35.57 and a twelve month high of $57.73.

LKQ Announces Dividend

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

Wall Street Analyst Weigh In

LKQ has been the topic of a number of recent analyst reports. Barrington Research restated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a report on Thursday. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price target on shares of LKQ in a report on Tuesday, April 9th. Roth Mkm reiterated a “buy” rating and issued a $65.00 target price on shares of LKQ in a research note on Thursday. Finally, Robert W. Baird lowered their target price on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.80.

Insider Activity at LKQ

In related news, Director Xavier Urbain sold 867 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.50, for a total value of $38,581.50. Following the sale, the director now directly owns 15,606 shares in the company, valued at approximately $694,467. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is 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.