Lithia Motors Inc (NYSE:LAD) Expected to Announce Earnings of $3.01 Per Share

Wall Street brokerages predict that Lithia Motors Inc (NYSE:LAD) will report earnings of $3.01 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Lithia Motors’ earnings, with estimates ranging from $2.82 to $3.20. Lithia Motors posted earnings of $2.57 per share in the same quarter last year, which suggests a positive year over year growth rate of 17.1%. The firm is expected to report its next quarterly earnings report on Wednesday, February 12th.

According to Zacks, analysts expect that Lithia Motors will report full year earnings of $11.81 per share for the current financial year, with EPS estimates ranging from $11.61 to $12.00. For the next fiscal year, analysts expect that the business will report earnings of $13.41 per share, with EPS estimates ranging from $12.75 to $15.78. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Lithia Motors.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, October 23rd. The company reported $3.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.30. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lithia Motors had a return on equity of 20.95% and a net margin of 2.13%. Lithia Motors’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $2.83 earnings per share.

Several analysts recently issued reports on the company. Bank of America cut Lithia Motors from a “neutral” rating to an “underperform” rating in a research note on Friday, September 13th. Guggenheim raised their target price on Lithia Motors from $147.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. ValuEngine raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Craig Hallum raised their target price on Lithia Motors from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley raised their target price on Lithia Motors from $144.00 to $151.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $135.30.

In other news, major shareholder Abrams Capital Management, L.P sold 73,933 shares of Lithia Motors stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $152.42, for a total transaction of $11,268,867.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth E. Roberts sold 1,758 shares of Lithia Motors stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $160.60, for a total transaction of $282,334.80. Following the transaction, the director now owns 100,356 shares of the company’s stock, valued at $16,117,173.60. The disclosure for this sale can be found here. Insiders have sold 109,739 shares of company stock valued at $16,878,883 over the last quarter. Company insiders own 5.21% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its holdings in shares of Lithia Motors by 290.5% during the second quarter. Advisory Services Network LLC now owns 246 shares of the company’s stock valued at $29,000 after purchasing an additional 183 shares during the last quarter. Advisors Preferred LLC purchased a new position in Lithia Motors in the 2nd quarter worth approximately $37,000. Quest Capital Management Inc. ADV purchased a new position in Lithia Motors in the 3rd quarter worth approximately $45,000. Point72 Asset Management L.P. purchased a new position in Lithia Motors in the 2nd quarter worth approximately $48,000. Finally, Private Capital Group LLC raised its holdings in Lithia Motors by 132.2% in the 2nd quarter. Private Capital Group LLC now owns 404 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares during the last quarter.

Shares of NYSE LAD traded up $0.86 during trading hours on Thursday, hitting $158.91. The company’s stock had a trading volume of 131,115 shares, compared to its average volume of 151,340. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.22 and a current ratio of 1.18. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.40 and a beta of 1.13. Lithia Motors has a 12 month low of $67.90 and a 12 month high of $165.26. The business has a 50-day simple moving average of $157.75 and a 200-day simple moving average of $133.07.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.20 annualized dividend and a dividend yield of 0.76%. Lithia Motors’s payout ratio is 12.02%.

Lithia Motors Company Profile

Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.

Recommended Story: How big is the FinTech market?

Get a free copy of the Zacks research report on Lithia Motors (LAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Lithia Motors (NYSE:LAD)

Receive News & Ratings for Lithia Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors and related companies with MarketBeat.com's FREE daily email newsletter.