LKQ (NASDAQ:LKQ) Posts 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 (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.05), Briefing.com reports. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. LKQ updated its FY24 guidance to $3.50-$3.70 EPS and its FY 2024 guidance to 3.500-3.700 EPS.

LKQ Price Performance

LKQ stock traded up $1.23 during mid-day trading on Friday, reaching $40.18. 3,687,813 shares of the company’s stock were exchanged, compared to its average volume of 1,872,164. The company 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 moving average is $42.46 and its 200 day moving average is $46.54. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.75 and a quick ratio of 0.68. LKQ has a 12-month low of $35.57 and a 12-month high of $57.73.

LKQ Announces Dividend

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 of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.99%. LKQ’s dividend payout ratio is currently 38.96%.

Wall Street Analyst Weigh In

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

Insider Activity

In other LKQ news, Director Xavier Urbain sold 867 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $44.50, for a total transaction of $38,581.50. Following the transaction, the director now owns 15,606 shares of the company’s stock, valued at $694,467. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.