LKQ (NASDAQ:LKQ) Releases Earnings Results, Misses Expectations By $0.13 EPS

LKQ (NASDAQ:LKQ - Get Free Report) posted its quarterly earnings data on Tuesday. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13), RTT News reports. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.76 billion. LKQ had a return on equity of 17.24% and a net margin of 6.75%. LKQ's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. LKQ updated its FY 2024 guidance to 3.900-4.200 EPS and its FY24 guidance to $3.90 to $4.20 EPS.

LKQ Stock Down 14.9 %

Shares of NASDAQ LKQ traded down $7.28 during trading hours on Tuesday, hitting $41.65. The stock had a trading volume of 9,654,821 shares, compared to its average volume of 1,641,377. The company has a market capitalization of $11.11 billion, a P/E ratio of 11.90 and a beta of 1.28. The firm's 50-day moving average price is $51.21 and its two-hundred day moving average price is $48.36. LKQ has a 52 week low of $41.46 and a 52 week high of $59.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.53 and a current ratio of 1.47.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.88%. LKQ's payout ratio is 34.29%.

Insider Activity at LKQ

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 386,522 shares of the company's stock, valued at $20,087,548.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on LKQ shares. Barrington Research restated an "outperform" rating and set a $60.00 price objective on shares of LKQ in a report on Friday. Roth Mkm restated a "buy" rating and set a $65.00 price objective on shares of LKQ in a report on Tuesday. Stifel Nicolaus reaffirmed a "buy" rating and set a $66.00 target price on shares of LKQ in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lowered 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. Finally, StockNews.com cut LKQ from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.80.

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.