Lithia Motors, Inc. (NYSE:LAD – Free Report) – Equities research analysts at Seaport Res Ptn reduced their FY2024 earnings per share estimates for shares of Lithia Motors in a report issued on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings of $27.97 per share for the year, down from their prior estimate of $28.02. The consensus estimate for Lithia Motors’ current full-year earnings is $28.74 per share. Seaport Res Ptn also issued estimates for Lithia Motors’ Q4 2024 earnings at $6.70 EPS and FY2025 earnings at $31.25 EPS.
Other equities research analysts also recently issued research reports about the company. Guggenheim raised Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price target for the company in a report on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of Lithia Motors from $302.00 to $299.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Stephens assumed coverage on shares of Lithia Motors in a report on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price target on the stock. Bank of America lifted their price objective on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on Lithia Motors from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $337.70.
Lithia Motors Price Performance
NYSE LAD opened at $335.35 on Wednesday. The firm’s 50 day moving average price is $298.20 and its 200-day moving average price is $274.40. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19. The company has a market cap of $9.19 billion, a PE ratio of 9.90, a P/E/G ratio of 0.30 and a beta of 1.64. Lithia Motors has a 52-week low of $231.36 and a 52-week high of $341.84.
Lithia Motors (NYSE:LAD – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company earned $10.91 EPS. Lithia Motors’s quarterly revenue was up 13.8% compared to the same quarter last year.
Institutional Investors Weigh In On Lithia Motors
Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers lifted its stake in shares of Lithia Motors by 1.3% in the 2nd quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock worth $975,000 after acquiring an additional 48 shares during the period. Signaturefd LLC boosted its stake in shares of Lithia Motors by 23.9% during the 3rd quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $79,000 after acquiring an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Lithia Motors by 12.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock valued at $116,000 after purchasing an additional 52 shares during the last quarter. Blue Trust Inc. increased its holdings in Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock valued at $34,000 after acquiring an additional 61 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Lithia Motors by 13.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock worth $167,000 after purchasing an additional 65 shares during the last quarter.
Insiders Place Their Bets
In other news, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the sale, the director now owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the sale, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sidney B. Deboer sold 10,777 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the sale, the director now directly owns 35,352 shares of the company’s stock, valued at $9,754,677.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,021 shares of company stock worth $6,534,617 in the last ninety days. 1.79% of the stock is owned by corporate insiders.
Lithia Motors Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, August 9th. Lithia Motors’s payout ratio is currently 6.26%.
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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.
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