LKQ (NASDAQ:LKQ) Updates FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.38-3.52 for the period, compared to the consensus EPS estimate of $3.53. LKQ also updated its FY 2024 guidance to 3.380-3.520 EPS.

LKQ Price Performance

LKQ stock traded down $0.12 during mid-day trading on Friday, reaching $37.55. The company had a trading volume of 2,638,193 shares, compared to its average volume of 1,902,895. The stock’s 50-day simple moving average is $40.02 and its 200-day simple moving average is $41.99. The company has a market capitalization of $9.89 billion, a P/E ratio of 13.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.75 and a quick ratio of 0.70. LKQ has a 1 year low of $35.57 and a 1 year high of $53.68.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. LKQ had a return on equity of 15.33% and a net margin of 5.03%. LKQ’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, equities analysts predict that LKQ will post 3.54 EPS for the current year.

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.20%. LKQ’s payout ratio is 43.96%.

Analysts Set New Price Targets

Several analysts have issued reports on LKQ shares. Stifel Nicolaus reduced their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com lowered LKQ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Roth Mkm restated a “buy” rating and issued a $59.00 price objective on shares of LKQ in a research report on Thursday, September 12th. Finally, Robert W. Baird dropped their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, LKQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Insiders Place Their Bets

In other LKQ news, SVP Matthew J. Mckay purchased 2,500 shares of the stock in a transaction on Monday, July 29th. The stock was bought at an average price of $39.75 per share, for a total transaction of $99,375.00. Following the acquisition, the senior vice president now directly owns 94,670 shares of the company’s stock, valued at $3,763,132.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

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.