LKQ Co. Expected to Post Q2 2024 Earnings of $1.09 Per Share (NASDAQ:LKQ)

LKQ Co. (NASDAQ:LKQ) – Equities researchers at Barrington Research raised their Q2 2024 earnings estimates for shares of LKQ in a research note issued to investors on Tuesday, March 26th. Barrington Research analyst G. Prestopino now anticipates that the auto parts company will post earnings per share of $1.09 for the quarter, up from their prior estimate of $1.08. Barrington Research currently has a “Outperform” rating and a $60.00 target price on the stock. The consensus estimate for LKQ’s current full-year earnings is $4.06 per share. Barrington Research also issued estimates for LKQ’s Q4 2024 earnings at $0.96 EPS.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of LKQ from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. lowered their target price on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

LKQ Stock Up 0.5 %

LKQ stock opened at $53.41 on Friday. The firm has a 50 day moving average of $50.20 and a 200 day moving average of $48.27. The stock has a market capitalization of $14.25 billion, a PE ratio of 15.26 and a beta of 1.29. The company has a quick ratio of 0.53, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. LKQ has a 52 week low of $41.49 and a 52 week high of $59.38.

LKQ (NASDAQ:LKQ) last released its earnings results on Thursday, February 22nd. The auto parts company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. LKQ had a net margin of 6.75% and a return on equity of 17.24%. LKQ’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS.

Hedge Funds Weigh In On LKQ

Several institutional investors have recently made changes to their positions in LKQ. Cadence Bank increased its holdings in LKQ by 2.0% in the 2nd quarter. Cadence Bank now owns 11,204 shares of the auto parts company’s stock worth $653,000 after acquiring an additional 220 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of LKQ by 40.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 777 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 225 shares during the period. Ancora Advisors LLC grew its position in shares of LKQ by 4.5% in the first quarter. Ancora Advisors LLC now owns 5,433 shares of the auto parts company’s stock valued at $308,000 after purchasing an additional 233 shares during the period. Studio Investment Management LLC grew its position in shares of LKQ by 2.4% in the fourth quarter. Studio Investment Management LLC now owns 9,977 shares of the auto parts company’s stock valued at $533,000 after purchasing an additional 235 shares during the period. Finally, Jacobi Capital Management LLC grew its position in shares of LKQ by 1.4% in the third quarter. Jacobi Capital Management LLC now owns 17,470 shares of the auto parts company’s stock valued at $865,000 after purchasing an additional 239 shares during the period. 95.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ 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 SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

LKQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Wednesday, March 13th. LKQ’s dividend payout ratio (DPR) is 34.29%.

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.