LKQ (NASDAQ:LKQ) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

LKQ (NASDAQ:LKQGet Rating) announced its earnings results on Thursday. The auto parts company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.09, MarketWatch Earnings reports. LKQ had a return on equity of 20.13% and a net margin of 8.33%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. LKQ updated its FY22 guidance to $3.80-4.10 EPS.

Shares of LKQ opened at $51.12 on Friday. LKQ has a 1 year low of $42.36 and a 1 year high of $60.43. The company has a current ratio of 1.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $46.59 and a 200-day simple moving average of $53.07. The stock has a market cap of $14.57 billion, a PE ratio of 13.97 and a beta of 1.64.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Thursday, May 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. LKQ’s payout ratio is presently 27.32%.

LKQ has been the subject of several recent analyst reports. Barrington Research upgraded LKQ from a “market perform” rating to an “outperform” rating in a research note on Thursday. StockNews.com cut LKQ from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 13th. Finally, Raymond James cut their price target on LKQ from $62.00 to $59.00 in a report on Monday, April 11th. 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 stock currently has an average rating of “Buy” and an average target price of $62.20.

Several institutional investors and hedge funds have recently modified their holdings of LKQ. Neo Ivy Capital Management increased its holdings in LKQ by 113.7% during the 4th quarter. Neo Ivy Capital Management now owns 641 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 341 shares in the last quarter. KB Financial Partners LLC acquired a new stake in LKQ during the 4th quarter valued at $48,000. Glenmede Trust Co. NA increased its holdings in LKQ by 1.8% during the 4th quarter. Glenmede Trust Co. NA now owns 48,664 shares of the auto parts company’s stock valued at $2,920,000 after purchasing an additional 852 shares in the last quarter. Horizon Investments LLC increased its holdings in LKQ by 20.0% during the 4th quarter. Horizon Investments LLC now owns 10,485 shares of the auto parts company’s stock valued at $629,000 after purchasing an additional 1,745 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in LKQ by 9.0% during the 4th quarter. MML Investors Services LLC now owns 23,752 shares of the auto parts company’s stock valued at $1,426,000 after purchasing an additional 1,971 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

About LKQ (Get Rating)

LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; 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.

Further Reading

Earnings History for LKQ (NASDAQ:LKQ)

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