Zacks: Analysts Anticipate LKQ Corporation (LKQ) Will Post Quarterly Sales of $2.37 Billion
Wall Street analysts expect LKQ Corporation (NASDAQ:LKQ) to post $2.37 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for LKQ Corporation’s earnings, with the lowest sales estimate coming in at $2.31 billion and the highest estimate coming in at $2.41 billion. LKQ Corporation reported sales of $2.39 billion in the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The firm is expected to report its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that LKQ Corporation will report full year sales of $2.37 billion for the current year, with estimates ranging from $9.35 billion to $9.58 billion. For the next fiscal year, analysts forecast that the firm will post sales of $10.05 billion per share, with estimates ranging from $9.92 billion to $10.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for LKQ Corporation.
LKQ Corporation (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. LKQ Corporation had a net margin of 5.31% and a return on equity of 15.74%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis.
LKQ has been the topic of a number of research reports. BidaskClub upgraded shares of LKQ Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research lowered shares of LKQ Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Northcoast Research lowered shares of LKQ Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and issued a $37.00 price objective on shares of LKQ Corporation in a report on Thursday, July 6th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $40.00 price objective (up from $38.00) on shares of LKQ Corporation in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.33.
In related news, VP Victor M. Casini sold 25,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $33.40, for a total value of $835,000.00. Following the transaction, the vice president now directly owns 213,884 shares of the company’s stock, valued at approximately $7,143,725.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Guhan Subramanian bought 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $33.96 per share, for a total transaction of $135,840.00. Following the completion of the transaction, the director now directly owns 23,811 shares in the company, valued at $808,621.56. The disclosure for this purchase can be found here. Insiders sold a total of 49,230 shares of company stock worth $1,634,545 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Israel Discount Bank of New York purchased a new position in shares of LKQ Corporation in the 1st quarter valued at $102,000. Global X Management Co. LLC grew its position in shares of LKQ Corporation by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 4,985 shares of the auto parts company’s stock valued at $146,000 after buying an additional 1,129 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of LKQ Corporation by 3.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,387 shares of the auto parts company’s stock valued at $158,000 after buying an additional 181 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of LKQ Corporation in the 1st quarter valued at $163,000. Finally, Bell Bank grew its position in shares of LKQ Corporation by 4.1% in the 1st quarter. Bell Bank now owns 7,220 shares of the auto parts company’s stock valued at $211,000 after buying an additional 285 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.
LKQ Corporation (LKQ) opened at 35.54 on Thursday. LKQ Corporation has a 12-month low of $27.85 and a 12-month high of $35.98. The firm has a 50-day moving average of $34.26 and a 200 day moving average of $31.85. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 22.28 and a beta of 0.83.
LKQ Corporation Company Profile
LKQ Corporation (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.
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