LKQ (NASDAQ:LKQ) Issues FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.90 to $4.20 for the period, compared to the consensus EPS 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 0.8 %

Shares of LKQ stock opened at $42.92 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $50.85 and its two-hundred day simple moving average is $48.23. The company has a market cap of $11.45 billion, a P/E ratio of 13.94 and a beta of 1.28. LKQ has a 12-month low of $41.30 and a 12-month high of $59.38.

LKQ (NASDAQ:LKQ) last announced its earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.76 billion. LKQ had a net margin of 5.79% and a return on equity of 15.94%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. Research analysts anticipate that LKQ will post 3.98 EPS for the current year.

LKQ Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, May 15th. LKQ’s dividend payout ratio (DPR) is currently 38.96%.

Analysts Set New Price Targets

A number of analysts recently issued reports on LKQ shares. StockNews.com downgraded LKQ from a buy rating to a hold rating in a research report on Friday, February 23rd. Barrington Research restated an outperform rating and issued a $60.00 price target on shares of LKQ in a research report on Friday, April 19th. Stifel Nicolaus restated a buy rating and issued a $66.00 price target on shares of LKQ in a research report on Tuesday, April 9th. Robert W. Baird reduced their target price on LKQ from $58.00 to $54.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on LKQ from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $61.60.

Insider Buying and Selling

In related news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction dated 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 sale, the chief executive officer now owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.