LKQ (LKQ) to Release Quarterly Earnings on Tuesday

LKQ (NASDAQ:LKQ) is set to issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.97 per share for the quarter. LKQ has set its FY 2024 guidance at 3.900-4.200 EPS and its FY24 guidance at $3.90-4.20 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, February 22nd. The auto parts company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. LKQ had a return on equity of 17.24% and a net margin of 6.75%. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. LKQ’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, analysts expect LKQ to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

LKQ Price Performance

NASDAQ LKQ opened at $49.12 on Friday. LKQ has a one year low of $41.49 and a one year high of $59.38. The stock has a 50-day moving average of $51.22 and a 200 day moving average of $48.36. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 14.03 and a beta of 1.28. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.44%. LKQ’s payout ratio is 34.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LKQ shares. StockNews.com downgraded LKQ from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and set a $66.00 price target on shares of LKQ in a research note on Tuesday, April 9th. Barrington Research restated an “outperform” rating and set a $60.00 price target on shares of LKQ in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price target on LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

Insider Buying and Selling

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the business’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 value of $10,394,000.00. Following the transaction, the chief executive officer now directly owns 386,522 shares of the company’s stock, valued at approximately $20,087,548.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by insiders.

Institutional Trading of LKQ

Several hedge funds have recently modified their holdings of LKQ. FIL Ltd increased its position in shares of LKQ by 114.8% during the 4th quarter. FIL Ltd now owns 74,810 shares of the auto parts company’s stock valued at $3,575,000 after purchasing an additional 39,980 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of LKQ by 3.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 381,808 shares of the auto parts company’s stock valued at $18,248,000 after purchasing an additional 14,120 shares during the last quarter. Kensington Investment Counsel LLC increased its position in shares of LKQ by 1.6% during the 4th quarter. Kensington Investment Counsel LLC now owns 23,320 shares of the auto parts company’s stock valued at $1,114,000 after purchasing an additional 360 shares during the last quarter. Legal & General Group Plc increased its position in shares of LKQ by 24.5% during the 4th quarter. Legal & General Group Plc now owns 2,727,465 shares of the auto parts company’s stock valued at $130,346,000 after purchasing an additional 536,564 shares during the last quarter. Finally, Coyle Financial Counsel LLC increased its position in shares of LKQ by 9.1% during the 4th quarter. Coyle Financial Counsel LLC now owns 55,934 shares of the auto parts company’s stock valued at $2,673,000 after purchasing an additional 4,671 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

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.