Zacks Research Comments on Lithia Motors, Inc.’s Q3 2024 Earnings (NYSE:LAD)

Lithia Motors, Inc. (NYSE:LAD) – Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for Lithia Motors in a report released on Wednesday, August 14th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings of $7.58 per share for the quarter, down from their previous forecast of $8.45. The consensus estimate for Lithia Motors’ current full-year earnings is $27.62 per share. Zacks Research also issued estimates for Lithia Motors’ FY2024 earnings at $28.45 EPS, Q1 2025 earnings at $8.59 EPS, Q2 2025 earnings at $9.81 EPS, Q3 2025 earnings at $9.95 EPS, FY2025 earnings at $38.63 EPS, Q1 2026 earnings at $11.23 EPS, Q2 2026 earnings at $11.16 EPS and FY2026 earnings at $46.58 EPS.

LAD has been the topic of a number of other research reports. Guggenheim upgraded Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price target on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on Lithia Motors from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. StockNews.com lowered Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Bank of America boosted their price target on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company boosted their price target on Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $321.50.

Lithia Motors Price Performance

LAD opened at $283.69 on Monday. The business’s 50-day moving average is $263.05 and its two-hundred day moving average is $272.20. Lithia Motors has a 1 year low of $231.36 and a 1 year high of $331.96. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.19 and a quick ratio of 0.28. The firm has a market capitalization of $7.77 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 3.59 and a beta of 1.63.

Lithia Motors (NYSE:LAD) last posted its earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.09 by $0.78. Lithia Motors had a return on equity of 13.81% and a net margin of 2.52%. The company had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the firm earned $10.91 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year.

Institutional Trading of Lithia Motors

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Lithia Motors in the 4th quarter valued at $6,072,000. Allspring Global Investments Holdings LLC grew its holdings in Lithia Motors by 514.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 664 shares of the company’s stock valued at $219,000 after buying an additional 556 shares in the last quarter. Cerity Partners LLC purchased a new stake in Lithia Motors in the 4th quarter valued at $423,000. Daiwa Securities Group Inc. purchased a new stake in Lithia Motors in the 4th quarter valued at $1,345,000. Finally, Xponance Inc. grew its holdings in Lithia Motors by 1.1% in the 4th quarter. Xponance Inc. now owns 3,492 shares of the company’s stock valued at $1,150,000 after buying an additional 38 shares in the last quarter.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 306 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the completion of the transaction, the director now directly owns 1,922 shares of the company’s stock, valued at approximately $556,707.30. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.79% of the company’s stock.

Lithia Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, August 9th. Lithia Motors’s payout ratio is 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.