Lithia Motors, Inc. (NYSE:LAD) – Jefferies Group boosted their Q3 2017 EPS estimates for Lithia Motors in a report released on Tuesday. Jefferies Group analyst B. Jordan now anticipates that the company will post earnings per share of $2.44 for the quarter, up from their prior forecast of $2.36. Jefferies Group currently has a “Buy” rating and a $125.00 price target on the stock. Jefferies Group also issued estimates for Lithia Motors’ Q4 2017 earnings at $2.20 EPS, FY2017 earnings at $8.70 EPS, Q2 2018 earnings at $2.73 EPS, Q3 2018 earnings at $2.71 EPS, Q4 2018 earnings at $2.38 EPS and FY2018 earnings at $10.00 EPS.
A number of other research firms have also recently weighed in on LAD. Seaport Global Securities initiated coverage on Lithia Motors in a research report on Wednesday, June 14th. They set a “neutral” rating for the company. Zacks Investment Research cut Lithia Motors from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. BidaskClub raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Morgan Stanley decreased their price objective on Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, Bank of America Corporation cut Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective for the company. in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $109.17.
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Lithia Motors (LAD) opened at 104.69 on Thursday. Lithia Motors has a one year low of $75.85 and a one year high of $109.42. The firm has a 50-day moving average price of $96.99 and a 200-day moving average price of $93.96. The firm has a market capitalization of $2.63 billion, a P/E ratio of 12.62 and a beta of 1.73.
Lithia Motors (NYSE:LAD) last released its earnings results on Friday, July 28th. The company reported $2.28 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.03%. Lithia Motors’s dividend payout ratio is currently 13.01%.
In other news, CEO Bryan B. Deboer sold 7,466 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $95.00, for a total value of $709,270.00. Following the completion of the sale, the chief executive officer now directly owns 114,183 shares of the company’s stock, valued at approximately $10,847,385. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan O. Cain sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $105.64, for a total value of $105,640.00. Following the completion of the sale, the director now directly owns 12,242 shares of the company’s stock, valued at $1,293,244.88. The disclosure for this sale can be found here. Insiders sold a total of 209,296 shares of company stock valued at $20,951,694 over the last three months. Insiders own 7.85% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Tyers Asset Management LLC boosted its stake in Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock valued at $110,000 after buying an additional 224 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lithia Motors by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after buying an additional 105 shares in the last quarter. Flinton Capital Management LLC boosted its stake in Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock valued at $134,000 after buying an additional 272 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock valued at $137,000 after buying an additional 146 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Lithia Motors during the first quarter valued at approximately $176,000. 97.34% of the stock is owned by institutional investors and hedge funds.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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