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

Lithia Motors, Inc. (NYSE:LAD) – Analysts at Seaport Res Ptn decreased their Q1 2024 EPS estimates for shares of Lithia Motors in a report issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $7.60 per share for the quarter, down from their previous forecast of $8.23. The consensus estimate for Lithia Motors’ current full-year earnings is $35.35 per share.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $8.24 EPS for the quarter, topping the consensus estimate of $8.11 by $0.13. The company 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 firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.05 EPS.

A number of other equities research analysts have also issued reports on LAD. Stephens reaffirmed an “overweight” rating and set a $375.00 target price on shares of Lithia Motors in a report on Wednesday, February 14th. Wells Fargo & Company upped their price objective on shares of Lithia Motors from $298.00 to $315.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Guggenheim dropped their price objective on shares of Lithia Motors from $320.00 to $297.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Morgan Stanley upped their price objective 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. Finally, StockNews.com lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Lithia Motors currently has an average rating of “Hold” and an average target price of $334.60.

Lithia Motors Price Performance

Shares of NYSE LAD opened at $264.58 on Monday. Lithia Motors has a one year low of $206.69 and a one year high of $331.96. The firm has a market cap of $7.28 billion, a PE ratio of 7.29, a PEG ratio of 2.17 and a beta of 1.58. The firm has a fifty day moving average of $285.95 and a 200 day moving average of $284.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.45 and a current ratio of 1.41.

Institutional Trading of Lithia Motors

Several hedge funds have recently made changes to their positions in LAD. Norges Bank acquired a new stake in Lithia Motors in the fourth quarter valued at approximately $123,976,000. Cadian Capital Management LP acquired a new stake in Lithia Motors in the fourth quarter valued at approximately $105,370,000. Wellington Management Group LLP raised its holdings in Lithia Motors by 413.6% in the fourth quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock valued at $21,450,000 after acquiring an additional 52,458 shares in the last quarter. FMR LLC raised its holdings in Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company’s stock valued at $145,383,000 after acquiring an additional 45,977 shares in the last quarter. Finally, Boston Partners raised its holdings in Lithia Motors by 67.5% in the fourth quarter. Boston Partners now owns 82,915 shares of the company’s stock valued at $26,734,000 after acquiring an additional 33,405 shares in the last quarter.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the sale, the director now owns 1,662 shares of the company’s stock, valued at $495,010.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.79% of the company’s stock.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 annualized dividend and a dividend yield of 0.76%. Lithia Motors’s dividend payout ratio is presently 5.51%.

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.