LKQ (NASDAQ:LKQ) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

LKQ (NASDAQ:LKQ) released its quarterly earnings results on Thursday. The auto parts company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.05), Briefing.com reports. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.87 billion. LKQ had a return on equity of 15.33% and a net margin of 5.03%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. LKQ updated its FY24 guidance to $3.50-$3.70 EPS and its FY 2024 guidance to 3.500-3.700 EPS.

LKQ Stock Performance

LKQ stock opened at $40.18 on Friday. The company has a current ratio of 1.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $42.46 and a 200-day moving average of $46.54. The firm has a market cap of $10.72 billion, a P/E ratio of 13.05 and a beta of 1.29. LKQ has a 1-year low of $35.57 and a 1-year high of $57.73.

LKQ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.99%. LKQ’s payout ratio is 38.96%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LKQ shares. 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 report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $66.00 target price on shares of LKQ in a research note on Tuesday, April 9th. Roth Mkm reissued a “buy” rating and issued a $65.00 target price on shares of LKQ in a research note on Thursday. Finally, Barrington Research reissued an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research note on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.80.

Insider Transactions at LKQ

In other LKQ news, Director Xavier Urbain sold 867 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.50, for a total value of $38,581.50. Following the completion of the sale, the director now directly 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 is accessible through this link. 0.55% of the stock is currently owned by company insiders.

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.