LKQ Co. Expected to Post Q2 2024 Earnings of $1.09 Per Share (NASDAQ:LKQ)

LKQ Co. (NASDAQ:LKQ) – Equities research analysts at Barrington Research upped their Q2 2024 earnings estimates for shares of LKQ in a research note issued on Tuesday, March 26th. Barrington Research analyst G. Prestopino now expects that the auto parts company will earn $1.09 per share for the quarter, up from their prior estimate of $1.08. Barrington Research has a “Outperform” rating and a $60.00 price target on the stock. The consensus estimate for LKQ’s current full-year earnings is $4.06 per share. Barrington Research also issued estimates for LKQ’s Q4 2024 earnings at $0.96 EPS.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, February 22nd. The auto parts company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. LKQ had a net margin of 6.75% and a return on equity of 17.24%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS.

A number of other research analysts have also issued reports on the stock. StockNews.com lowered shares of LKQ from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. reduced their target price on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.50.

LKQ Price Performance

Shares of NASDAQ LKQ opened at $53.41 on Friday. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 15.26 and a beta of 1.29. The company has a current ratio of 1.47, a quick ratio of 0.53 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $50.20 and its 200 day moving average price is $48.27. LKQ has a 52 week low of $41.49 and a 52 week high of $59.38.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Clear Street Markets LLC raised its holdings in LKQ by 94.1% in the first quarter. Clear Street Markets LLC now owns 497 shares of the auto parts company’s stock valued at $28,000 after buying an additional 241 shares during the period. CVA Family Office LLC purchased a new position in LKQ in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new position in LKQ in the third quarter valued at approximately $26,000. Covestor Ltd raised its holdings in LKQ by 81.1% in the first quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock valued at $28,000 after buying an additional 279 shares during the period. Finally, Private Trust Co. NA raised its holdings in LKQ by 228.4% in the fourth quarter. Private Trust Co. NA now owns 647 shares of the auto parts company’s stock valued at $31,000 after buying an additional 450 shares during the period. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at LKQ

In other news, CEO Dominick P. Zarcone sold 200,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the transaction, the chief executive officer now directly owns 386,522 shares in the company, valued at approximately $20,087,548.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

LKQ Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.25%. LKQ’s payout ratio is currently 34.29%.

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.