LKQ (NASDAQ:LKQ) Issues FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.90 to $4.20 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of LKQ from $58.00 to $54.00 and set an outperform rating on the stock in a research note on Wednesday. Stifel Nicolaus reiterated a buy rating and set a $66.00 price objective on shares of LKQ in a research note on Tuesday, April 9th. Roth Mkm reiterated a buy rating and set a $65.00 price objective on shares of LKQ in a research note on Tuesday. Barrington Research reiterated an outperform rating and set a $60.00 price objective on shares of LKQ in a research note on Friday, April 19th. Finally, StockNews.com downgraded shares of LKQ from a buy rating to a hold rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $61.60.

LKQ Stock Performance

Shares of LKQ stock traded down $0.36 during trading on Thursday, hitting $42.92. 2,404,327 shares of the company’s stock were exchanged, compared to its average volume of 1,700,999. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 1.70. The business has a 50-day simple moving average of $50.97 and a 200-day simple moving average of $48.27. LKQ has a 52-week low of $41.30 and a 52-week high of $59.38. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 14.02 and a beta of 1.28.

LKQ (NASDAQ:LKQ) last issued its earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13). LKQ had a return on equity of 15.94% and a net margin of 5.79%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the business earned $1.04 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts forecast that LKQ will post 4.07 EPS for the current year.

LKQ Announces Dividend

The company 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 $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.80%. LKQ’s payout ratio is 38.96%.

Insider Buying and Selling at LKQ

In other news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $51.97, for a total value of $10,394,000.00. Following the sale, the chief executive officer now owns 386,522 shares in the company, valued at $20,087,548.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by corporate insiders.

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.