LKQ (NASDAQ:LKQ) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

LKQ (NASDAQ:LKQ) posted its earnings results on Thursday. The auto parts company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01, Briefing.com reports. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. LKQ’s revenue was up .4% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. 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 %

Shares of LKQ stock opened at $37.55 on Friday. The stock has a market cap of $9.89 billion, a P/E ratio of 13.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.75 and a quick ratio of 0.70. The stock has a fifty day moving average price of $40.02 and a 200 day moving average price of $41.99. LKQ has a one year low of $35.57 and a one year high of $53.68.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, November 14th. LKQ’s dividend payout ratio is presently 43.96%.

Insider Activity

In other LKQ news, SVP Matthew J. Mckay bought 2,500 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average price of $39.75 per share, with a total value of $99,375.00. Following the completion of the purchase, the senior vice president now directly owns 94,670 shares in the company, valued at $3,763,132.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

LKQ has been the topic of several research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research report on Friday. Robert W. Baird lowered their target price on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday. Stifel Nicolaus cut their price target on LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday. Roth Mkm restated a “buy” rating and issued a $59.00 price objective on shares of LKQ in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

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.