LKQ (NASDAQ:LKQ) Updates FY 2024 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.900-4.200 for the period, compared to the consensus earnings per share estimate of 4.040. The company issued revenue guidance of -. LKQ also updated its FY24 guidance to $3.90 to $4.20 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LKQ. JPMorgan Chase & Co. reduced their price target on LKQ from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Thursday, January 25th. Roth Mkm reaffirmed a buy rating and issued a $65.00 price target on shares of LKQ in a research report on Tuesday. Robert W. Baird dropped their price objective on LKQ from $58.00 to $54.00 and set an outperform rating on the stock in a report on Wednesday. Stifel Nicolaus reiterated a buy rating and issued a $66.00 price objective on shares of LKQ in a report on Tuesday, April 9th. Finally, Barrington Research reiterated an outperform rating and issued a $60.00 price objective on shares of LKQ in a report on Friday, April 19th. 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, the stock presently has a consensus rating of Moderate Buy and an average price target of $61.60.

LKQ Stock Performance

LKQ stock traded up $1.03 during mid-day trading on Wednesday, reaching $42.68. 1,346,023 shares of the company were exchanged, compared to its average volume of 1,634,452. LKQ has a twelve month low of $41.30 and a twelve month high of $59.38. The firm’s 50-day simple moving average is $51.21 and its two-hundred day simple moving average is $48.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.53 and a current ratio of 1.47. The firm has a market cap of $11.39 billion, a PE ratio of 12.24 and a beta of 1.28.

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

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. LKQ’s dividend payout ratio is currently 34.29%.

Insider Activity

In related news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction on Friday, March 1st. The stock was sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the completion of the transaction, the chief executive officer now directly owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.