Roth Capital Weighs in on LKQ Co.’s Q2 2024 Earnings (NASDAQ:LKQ)

LKQ Co. (NASDAQ:LKQ) – Analysts at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for shares of LKQ in a note issued to investors on Wednesday, April 24th. Roth Capital analyst S. Stember now expects that the auto parts company will post earnings of $1.00 per share for the quarter, down from their prior estimate of $1.13. The consensus estimate for LKQ’s current full-year earnings is $3.98 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 released its quarterly earnings results 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 net margin of 5.79% and a return on equity of 15.94%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the company earned $1.04 earnings per share. LKQ’s quarterly revenue was up 10.6% compared to the same quarter last year.

Several other brokerages have also recently issued reports on LKQ. Roth Mkm restated a “buy” rating and set a $65.00 target price on shares of LKQ in a research report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective on shares of LKQ in a research note on Tuesday, April 9th. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research report on Friday, April 19th. JPMorgan Chase & Co. lowered their target price on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, Robert W. Baird decreased their price objective on shares of LKQ from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, LKQ presently has an average rating of “Moderate Buy” and an average price target of $61.60.

LKQ Trading Down 0.8 %

Shares of LKQ stock opened at $42.92 on Friday. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 13.94 and a beta of 1.28. 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 firm has a fifty day moving average price of $50.85 and a 200-day moving average price of $48.23. LKQ has a 1 year low of $41.30 and a 1 year high of $59.38.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in LKQ in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of LKQ in the 3rd quarter worth $26,000. Private Trust Co. NA grew its stake in LKQ by 228.4% during the 4th quarter. Private Trust Co. NA now owns 647 shares of the auto parts company’s stock worth $31,000 after buying an additional 450 shares during the last quarter. Headinvest LLC acquired a new position in LKQ during the 3rd quarter valued at about $34,000. Finally, NBC Securities Inc. purchased a new stake in LKQ in the third quarter valued at about $34,000. Institutional investors own 95.63% of the company’s stock.

Insider Activity

In related news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction that occurred on 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 of the company’s stock, valued at $20,087,548.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

LKQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.80%. 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.