LKQ Corporation (LKQ) Expected to Post Quarterly Sales of $2.37 Billion
Brokerages expect LKQ Corporation (NASDAQ:LKQ) to post sales of $2.37 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for LKQ Corporation’s earnings. The lowest sales estimate is $2.31 billion and the highest is $2.42 billion. LKQ Corporation posted sales of $2.39 billion in the same quarter last year, which suggests a negative year over year growth rate of 0.8%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that LKQ Corporation will report full year sales of $2.37 billion for the current fiscal year, with estimates ranging from $9.35 billion to $9.58 billion. For the next year, analysts anticipate that the company will report sales of $10.08 billion per share, with estimates ranging from $9.92 billion to $10.16 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow LKQ Corporation.
LKQ Corporation (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.41 billion. LKQ Corporation had a return on equity of 15.74% and a net margin of 5.31%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share.
Several equities analysts have commented on LKQ shares. Jefferies Group LLC reissued a “buy” rating and set a $37.00 target price on shares of LKQ Corporation in a research report on Wednesday, August 9th. BidaskClub raised shares of LKQ Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and set a $37.00 target price on shares of LKQ Corporation in a research report on Thursday, July 6th. Northcoast Research cut shares of LKQ Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 25th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $40.00 price target (up previously from $38.00) on shares of LKQ Corporation in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. LKQ Corporation currently has an average rating of “Buy” and a consensus price target of $40.20.
LKQ Corporation (NASDAQ LKQ) opened at 37.34 on Friday. The firm has a market cap of $11.53 billion, a P/E ratio of 23.41 and a beta of 0.85. LKQ Corporation has a 52-week low of $27.85 and a 52-week high of $37.70. The stock has a 50 day moving average price of $35.96 and a 200 day moving average price of $33.00.
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In related news, Director A Clinton Allen sold 16,000 shares of LKQ Corporation stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $32.92, for a total value of $526,720.00. Following the completion of the transaction, the director now directly owns 196,083 shares in the company, valued at approximately $6,455,052.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Guhan Subramanian acquired 4,000 shares of LKQ Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average price of $33.96 per share, with a total value of $135,840.00. Following the completion of the purchase, the director now directly owns 23,811 shares in the company, valued at approximately $808,621.56. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LKQ. Principal Financial Group Inc. grew its stake in LKQ Corporation by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 476,217 shares of the auto parts company’s stock valued at $13,938,000 after buying an additional 6,418 shares in the last quarter. Teachers Advisors LLC grew its stake in LKQ Corporation by 0.6% in the 1st quarter. Teachers Advisors LLC now owns 378,951 shares of the auto parts company’s stock valued at $11,092,000 after buying an additional 2,270 shares in the last quarter. Global X Management Co. LLC grew its stake in LKQ Corporation by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 4,985 shares of the auto parts company’s stock valued at $146,000 after buying an additional 1,129 shares in the last quarter. Geode Capital Management LLC grew its stake in LKQ Corporation by 10.1% in the 1st quarter. Geode Capital Management LLC now owns 3,053,907 shares of the auto parts company’s stock valued at $89,262,000 after buying an additional 279,437 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in LKQ Corporation by 27.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,142,256 shares of the auto parts company’s stock valued at $62,706,000 after buying an additional 464,504 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.
About LKQ Corporation
LKQ Corporation (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.
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