LKQ (NASDAQ:LKQ) Releases Earnings Results, Misses Expectations By $0.05 EPS

LKQ (NASDAQ:LKQ) announced its earnings results on Thursday. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05), Briefing.com reports. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. 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. The stock had a trading volume of 3,687,813 shares, compared to its average volume of 1,872,164. 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 has a one year low of $35.57 and a one year high of $57.73. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 13.05 and a beta of 1.29. The stock’s 50-day simple moving average is $42.46 and its two-hundred day simple moving average is $46.54.

LKQ Announces Dividend

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

Analyst Ratings Changes

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

Insider Transactions at LKQ

In other news, Director Xavier Urbain sold 867 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.50, for a total value of $38,581.50. Following the transaction, the director now owns 15,606 shares in the company, valued at $694,467. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.