LKQ (NASDAQ:LKQ) Releases FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.90 to $4.20 for the period, compared to the consensus estimate of $4.08. The company issued revenue guidance of +2.5 to 4.5% yr/yr or $14.213 billion to $14.49 billion fr, compared to the consensus revenue estimate of $15.26 billion. LKQ also updated its FY 2024 guidance to 3.900-4.200 EPS.

LKQ Stock Down 12.9 %

LKQ stock traded down $6.29 during midday trading on Tuesday, hitting $42.64. 946,710 shares of the company were exchanged, compared to its average volume of 1,521,170. The company’s fifty day moving average price is $51.21 and its 200-day moving average price is $48.36. The company has a market cap of $11.38 billion, a PE ratio of 12.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 0.53. LKQ has a fifty-two week low of $41.49 and a fifty-two week high of $59.38.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.76 billion. LKQ had a return on equity of 17.24% and a net margin of 6.75%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share. On average, research analysts predict that LKQ will post 4.07 EPS for the current fiscal year.

LKQ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.81%. LKQ’s dividend payout ratio is presently 34.29%.

Wall Street Analysts Forecast Growth

LKQ has been the topic of several analyst reports. Stifel Nicolaus restated a buy rating and set a $66.00 price objective on shares of LKQ in a report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on LKQ from $65.00 to $63.00 and set an overweight rating on the stock in a report on Thursday, January 25th. Barrington Research restated an outperform rating and set a $60.00 price objective on shares of LKQ in a report on Friday. Finally, StockNews.com downgraded LKQ from a buy rating to a hold rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $63.50.

Insider Activity

In other news, CEO Dominick P. Zarcone sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $51.97, for a total value of $10,394,000.00. Following the completion of the sale, the chief executive officer now directly owns 386,522 shares in the company, valued at approximately $20,087,548.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.45% 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.