LKQ (NASDAQ:LKQ) Announces Quarterly Earnings Results, Misses Estimates By $0.13 EPS

LKQ (NASDAQ:LKQ) announced its quarterly earnings data on Tuesday. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13), RTT News reports. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. LKQ had a return on equity of 17.24% and a net margin of 6.75%. The firm’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 opened at $48.93 on Tuesday. LKQ has a 12 month low of $41.49 and a 12 month high of $59.38. The stock has a fifty day moving average price of $51.21 and a 200-day moving average price of $48.36. The company has a current ratio of 1.47, a quick ratio of 0.53 and a debt-to-equity ratio of 0.59. The firm has a market cap of $13.05 billion, a PE ratio of 13.98 and a beta of 1.28.

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.45%. LKQ’s dividend payout ratio is presently 34.29%.

Insider Activity

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $51.97, for a total value of $10,394,000.00. Following 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 this hyperlink. Company insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

LKQ has been the subject of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of LKQ in a report on Friday. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of LKQ in a report on Tuesday, April 9th. StockNews.com lowered LKQ from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, LKQ currently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

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.