LKQ (NASDAQ:LKQ) Updates FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.50-$3.70 for the period, compared to the consensus earnings per share estimate of $3.92. LKQ also updated its FY 2024 guidance to 3.500-3.700 EPS.

LKQ Stock Down 12.4 %

Shares of LKQ traded down $5.53 during mid-day trading on Thursday, reaching $38.95. The company’s stock had a trading volume of 7,152,318 shares, compared to its average volume of 1,783,167. The business has a fifty day moving average of $42.65 and a 200 day moving average of $46.64. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 12.70 and a beta of 1.29. LKQ has a 1 year low of $35.57 and a 1 year high of $57.73. The company has a quick ratio of 0.68, a current ratio of 1.70 and a debt-to-equity ratio of 0.67.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data 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 firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. LKQ’s revenue was up 10.6% on a year-over-year basis. As a group, analysts forecast that LKQ will post 3.94 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. LKQ’s dividend payout ratio is 38.96%.

Wall Street Analysts Forecast Growth

LKQ has been the subject of several recent research reports. Robert W. Baird cut their price objective on LKQ from $58.00 to $54.00 and set an outperform rating for the company in a report on Wednesday, April 24th. Roth Mkm reiterated a buy rating and set a $65.00 price objective on shares of LKQ in a report on Thursday. Stifel Nicolaus reissued a buy rating and set a $66.00 target price on shares of LKQ in a research report on Tuesday, April 9th. Finally, Barrington Research reissued an outperform rating and set a $60.00 target price on shares of LKQ in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $61.60.

Insiders Place Their Bets

In other news, Director Xavier Urbain sold 867 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.50, for a total value of $38,581.50. Following the sale, the director now directly owns 15,606 shares of the company’s stock, valued at $694,467. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.55% 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.