Barrington Research Weighs in on LKQ Co.’s FY2024 Earnings (NASDAQ:LKQ)

LKQ Co. (NASDAQ:LKQ) – Barrington Research dropped their FY2024 earnings per share estimates for LKQ in a note issued to investors on Tuesday, April 23rd. Barrington Research analyst G. Prestopino now anticipates that the auto parts company will post earnings per share of $3.90 for the year, down from their prior estimate of $4.05. Barrington Research has a “Outperform” rating and a $60.00 price objective on the stock. The consensus estimate for LKQ’s current full-year earnings is $4.07 per share. Barrington Research also issued estimates for LKQ’s FY2025 earnings at $4.29 EPS.

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

LKQ has been the topic of several other research reports. JPMorgan Chase & Co. cut their price objective on LKQ from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective on shares of LKQ in a report on Tuesday, April 9th. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Roth Mkm reiterated a “buy” rating and set a $65.00 price objective on shares of LKQ in a report on Tuesday. Finally, Robert W. Baird cut their price objective on LKQ from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.60.

LKQ Trading Down 0.8 %

NASDAQ:LKQ opened at $42.92 on Thursday. LKQ has a fifty-two week low of $41.30 and a fifty-two week high of $59.38. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.70 and a quick ratio of 0.53. The stock has a market capitalization of $11.45 billion, a PE ratio of 14.02 and a beta of 1.28. The business’s 50-day simple moving average is $50.97 and its 200-day simple moving average is $48.27.

LKQ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Wednesday, May 15th. LKQ’s payout ratio is 38.96%.

Insider Buying and Selling at LKQ

In other LKQ 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 sale, the chief executive officer now owns 386,522 shares in the company, valued at approximately $20,087,548.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LKQ. Norges Bank acquired a new position in shares of LKQ during the 4th quarter worth approximately $159,324,000. Boston Partners increased its position in shares of LKQ by 22.0% during the 4th quarter. Boston Partners now owns 7,507,873 shares of the auto parts company’s stock worth $358,848,000 after purchasing an additional 1,351,389 shares during the last quarter. Morgan Stanley increased its position in shares of LKQ by 13.7% during the 3rd quarter. Morgan Stanley now owns 9,907,659 shares of the auto parts company’s stock worth $490,528,000 after purchasing an additional 1,195,122 shares during the last quarter. Cooke & Bieler LP increased its position in shares of LKQ by 95.1% during the 4th quarter. Cooke & Bieler LP now owns 2,403,053 shares of the auto parts company’s stock worth $114,842,000 after purchasing an additional 1,171,225 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of LKQ by 9.5% during the 4th quarter. Wellington Management Group LLP now owns 11,307,753 shares of the auto parts company’s stock worth $540,398,000 after purchasing an additional 977,585 shares during the last quarter. Institutional investors and hedge funds own 95.63% 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.