FY2024 EPS Estimates for LKQ Co. (NASDAQ:LKQ) Lowered by Analyst

LKQ Co. (NASDAQ:LKQ) – Research analysts at Barrington Research lowered their FY2024 earnings estimates for LKQ in a report released on Thursday, July 25th. Barrington Research analyst G. Prestopino now forecasts that the auto parts company will post earnings per share of $3.50 for the year, down from their previous estimate of $3.90. Barrington Research currently has a “Outperform” rating and a $60.00 price target on the stock. The consensus estimate for LKQ’s current full-year earnings is $3.59 per share.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 EPS.

LKQ has been the subject of a number of other research reports. Roth Mkm reiterated a “buy” rating and set a $65.00 target price on shares of LKQ in a report on Thursday, July 25th. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective on shares of LKQ in a research note on Tuesday, April 9th. Finally, Robert W. Baird cut their target price on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, LKQ has an average rating of “Moderate Buy” and a consensus price target of $60.80.

LKQ Price Performance

LKQ stock opened at $40.85 on Monday. The company has a market cap of $10.75 billion, a PE ratio of 13.26 and a beta of 1.29. The company has a current ratio of 1.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $42.29 and a two-hundred day moving average price of $46.44. LKQ has a 12-month low of $35.57 and a 12-month high of $55.52.

Hedge Funds Weigh In On LKQ

A number of hedge funds have recently bought and sold shares of LKQ. Choreo LLC bought a new stake in LKQ during the fourth quarter valued at $851,000. Homestead Advisers Corp acquired a new stake in LKQ during the fourth quarter worth about $20,583,000. Osborne Partners Capital Management LLC bought a new position in LKQ in the fourth quarter worth about $5,888,000. KBC Group NV boosted its stake in LKQ by 49.2% in the fourth quarter. KBC Group NV now owns 689,041 shares of the auto parts company’s stock valued at $32,929,000 after acquiring an additional 227,314 shares during the period. Finally, River Road Asset Management LLC grew its holdings in shares of LKQ by 2.5% during the fourth quarter. River Road Asset Management LLC now owns 4,690,401 shares of the auto parts company’s stock valued at $224,154,000 after purchasing an additional 114,207 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Xavier Urbain sold 867 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Justin L. Jude acquired 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $39.91 per share, with a total value of $99,775.00. Following the acquisition, the chief executive officer now directly owns 207,515 shares in the company, valued at $8,281,923.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Xavier Urbain sold 867 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.50, for a total transaction of $38,581.50. Following the completion of the sale, the director now owns 15,606 shares in the company, valued at approximately $694,467. The disclosure for this sale can be found here. Insiders have bought 13,084 shares of company stock valued at $521,096 in the last quarter. Company insiders own 0.55% of the company’s stock.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 15th. LKQ’s payout ratio is 38.96%.

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.