LKQ (NASDAQ:LKQ) Announces Earnings Results, Beats Estimates By $0.01 EPS

LKQ (NASDAQ:LKQ) issued its quarterly earnings data on Thursday. The auto parts company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01, Briefing.com reports. LKQ had a return on equity of 15.33% and a net margin of 5.03%. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the firm earned $0.86 EPS. LKQ’s quarterly revenue was up .4% on a year-over-year basis. LKQ updated its FY 2024 guidance to 3.380-3.520 EPS and its FY24 guidance to $3.38-3.52 EPS.

LKQ Stock Down 0.3 %

NASDAQ:LKQ opened at $37.55 on Friday. The firm has a market capitalization of $9.89 billion, a PE ratio of 13.75 and a beta of 1.28. LKQ has a 52 week low of $35.57 and a 52 week high of $53.68. 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 of $40.02 and a 200-day moving average of $41.92.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.20%. LKQ’s payout ratio is currently 43.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LKQ. JPMorgan Chase & Co. lifted their price target on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Barrington Research reissued an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research report on Friday. StockNews.com cut shares of LKQ from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Stifel Nicolaus lowered their price objective on LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday. Finally, Robert W. Baird reduced their target price on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Insider Buying and Selling

In related news, SVP Matthew J. Mckay bought 2,500 shares of the company’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $39.75 per share, with a total value of $99,375.00. Following the completion of the transaction, the senior vice president now directly owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

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.