Brokers Issue Forecasts for LKQ Co.’s Q2 2024 Earnings (NASDAQ:LKQ)

LKQ Co. (NASDAQ:LKQ) – Analysts at Roth Capital cut their Q2 2024 earnings estimates for shares of LKQ in a note issued to investors on Wednesday, April 24th. Roth Capital analyst S. Stember now forecasts that the auto parts company will post earnings of $1.00 per share for the quarter, down from their previous forecast of $1.13. The consensus estimate for LKQ’s current full-year earnings is $3.94 per share. Roth Capital also issued estimates for LKQ’s Q3 2024 earnings at $1.14 EPS and FY2024 earnings at $3.90 EPS.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings data on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm earned $1.04 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis.

Several other brokerages have also recently commented on LKQ. Roth Mkm reiterated a “buy” rating and set a $65.00 target price on shares of LKQ in a research report on Tuesday, April 23rd. Robert W. Baird dropped their target price on shares of LKQ from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday. Barrington Research reiterated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research report on Friday, April 19th. StockNews.com cut shares of LKQ from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.60.

LKQ Stock Performance

Shares of LKQ stock opened at $43.64 on Friday. The firm has a fifty day moving average of $50.72 and a two-hundred day moving average of $48.18. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 14.17 and a beta of 1.28. LKQ has a 52 week low of $41.30 and a 52 week high of $59.38. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 1.70.

Hedge Funds Weigh In On LKQ

A number of large investors have recently modified their holdings of LKQ. Czech National Bank lifted its stake in LKQ by 0.5% in the 1st quarter. Czech National Bank now owns 47,084 shares of the auto parts company’s stock valued at $2,515,000 after purchasing an additional 216 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in LKQ by 40.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 777 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Jacobi Capital Management LLC lifted its position in LKQ by 1.4% during the third quarter. Jacobi Capital Management LLC now owns 17,470 shares of the auto parts company’s stock worth $865,000 after acquiring an additional 239 shares during the last quarter. Evergreen Wealth Solutions LLC lifted its position in LKQ by 4.9% during the fourth quarter. Evergreen Wealth Solutions LLC now owns 5,229 shares of the auto parts company’s stock worth $250,000 after acquiring an additional 244 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in LKQ by 30.8% during the fourth quarter. Blue Trust Inc. now owns 1,103 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 260 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $51.97, for a total value of $10,394,000.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

LKQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, May 15th. LKQ’s dividend payout ratio (DPR) is 38.96%.

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.