Lithia Motors (NYSE:LAD) Issues Quarterly Earnings Results

Lithia Motors (NYSE:LAD) posted its earnings results on Wednesday. The company reported $8.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61, Briefing.com reports. The firm had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.46 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $9.25 earnings per share.

Lithia Motors Stock Up 0.0 %

NYSE LAD traded up $0.01 during trading hours on Thursday, hitting $335.32. 450,299 shares of the company traded hands, compared to its average volume of 256,718. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 0.30 and a beta of 1.64. Lithia Motors has a twelve month low of $231.36 and a twelve month high of $341.84. The business’s 50-day moving average is $299.06 and its 200-day moving average is $274.82. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19.

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.63%. Lithia Motors’s payout ratio is presently 6.26%.

Insider Activity at Lithia Motors

In other news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares of the company’s stock, 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 SEC, which is available at this link. In other news, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the sale, the director now directly owns 46,129 shares of the company’s stock, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the transaction, the director now owns 1,922 shares of the company’s stock, valued at $556,707.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,021 shares of company stock valued at $6,534,617. 1.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAD. The Goldman Sachs Group boosted their price objective on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Lithia Motors from $315.00 to $375.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Morgan Stanley raised shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $225.00 to $310.00 in a research note on Wednesday, September 25th. Bank of America lifted their price target 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, Wells Fargo & Company upped their price objective on Lithia Motors from $299.00 to $343.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $350.80.

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.