Lithia Motors, Inc. to Post Q1 2024 Earnings of $7.60 Per Share, Seaport Res Ptn Forecasts (NYSE:LAD)

Lithia Motors, Inc. (NYSE:LAD) – Seaport Res Ptn reduced their Q1 2024 earnings estimates for shares of Lithia Motors in a note issued to investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now forecasts that the company will earn $7.60 per share for the quarter, down from their prior forecast of $8.23. The consensus estimate for Lithia Motors’ current full-year earnings is $35.35 per share.

A number of other research analysts also recently weighed in on the stock. Evercore ISI assumed coverage on shares of Lithia Motors in a research report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 target price for the company. Morgan Stanley raised their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Bank of America raised their price target on shares of Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. The Goldman Sachs Group lifted their target price on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Guggenheim decreased their price objective on shares of Lithia Motors from $320.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $334.60.

Lithia Motors Stock Up 0.2 %

Lithia Motors stock opened at $261.00 on Monday. Lithia Motors has a twelve month low of $206.69 and a twelve month high of $331.96. The firm has a 50 day moving average price of $286.93 and a 200-day moving average price of $284.15. The company has a market capitalization of $7.19 billion, a P/E ratio of 7.19, a P/E/G ratio of 2.17 and a beta of 1.58. The company has a quick ratio of 0.45, a current ratio of 1.41 and a debt-to-equity ratio of 1.15.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $8.24 EPS for the quarter, beating the consensus estimate of $8.11 by $0.13. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.95 billion. Lithia Motors had a net margin of 3.22% and a return on equity of 17.33%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $9.05 EPS.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were given a $0.50 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.00 annualized dividend and a yield of 0.77%. Lithia Motors’s payout ratio is presently 5.51%.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the completion of the transaction, the director now directly owns 1,662 shares of the company’s stock, valued at $495,010.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. State of Michigan Retirement System lifted its stake in Lithia Motors by 3.0% during the 1st quarter. State of Michigan Retirement System now owns 6,787 shares of the company’s stock valued at $2,042,000 after acquiring an additional 200 shares during the period. Sendero Wealth Management LLC grew its holdings in shares of Lithia Motors by 15.7% during the first quarter. Sendero Wealth Management LLC now owns 11,949 shares of the company’s stock worth $3,595,000 after buying an additional 1,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Lithia Motors by 4.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,489 shares of the company’s stock worth $749,000 after buying an additional 98 shares in the last quarter. Bridge City Capital LLC grew its holdings in shares of Lithia Motors by 0.8% during the first quarter. Bridge City Capital LLC now owns 13,695 shares of the company’s stock worth $4,120,000 after buying an additional 108 shares in the last quarter. Finally, BTC Capital Management Inc. purchased a new stake in shares of Lithia Motors during the first quarter worth $230,000.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.