Lithia Motors, Inc. (NYSE:LAD - Free Report) - Zacks Research dropped their Q2 2024 earnings per share estimates for Lithia Motors in a note issued to investors on Wednesday, May 8th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings per share of $8.66 for the quarter, down from their prior estimate of $9.14. The consensus estimate for Lithia Motors' current full-year earnings is $29.61 per share. Zacks Research also issued estimates for Lithia Motors' Q3 2024 earnings at $8.73 EPS, FY2024 earnings at $31.30 EPS, Q1 2025 earnings at $10.15 EPS and FY2025 earnings at $47.17 EPS.
LAD has been the subject of a number of other research reports. Craig Hallum lowered their target price on Lithia Motors from $350.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Guggenheim reduced their price target on Lithia Motors from $320.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company lowered their price objective on shares of Lithia Motors from $290.00 to $248.00 and set an "equal weight" rating on the stock in a report on Thursday, April 25th. Morgan Stanley raised their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the company an "underweight" rating in a research report on Thursday, February 29th. Finally, Bank of America boosted their price target on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $318.55.
Check Out Our Latest Research Report on Lithia Motors
Lithia Motors Stock Up 4.0 %
LAD traded up $10.51 during trading on Monday, reaching $274.77. The company had a trading volume of 244,026 shares, compared to its average volume of 226,397. The business's fifty day moving average price is $276.41 and its 200 day moving average price is $283.57. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28. Lithia Motors has a 12 month low of $207.08 and a 12 month high of $331.96. The company has a market cap of $7.53 billion, a P/E ratio of 8.15, a PEG ratio of 2.63 and a beta of 1.59.
Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts' consensus estimates of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the company earned $8.44 EPS. Lithia Motors's quarterly revenue was up 22.7% on a year-over-year basis.
Hedge Funds Weigh In On Lithia Motors
Large investors have recently modified their holdings of the business. Denali Advisors LLC boosted its holdings in shares of Lithia Motors by 5,050.0% during the 4th quarter. Denali Advisors LLC now owns 103 shares of the company's stock worth $34,000 after buying an additional 101 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Lithia Motors during the 3rd quarter worth $32,000. JFS Wealth Advisors LLC raised its holdings in shares of Lithia Motors by 509.5% in the third quarter. JFS Wealth Advisors LLC now owns 128 shares of the company's stock valued at $38,000 after purchasing an additional 107 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Lithia Motors during the fourth quarter valued at about $49,000. Finally, Rise Advisors LLC boosted its holdings in Lithia Motors by 80.2% during the first quarter. Rise Advisors LLC now owns 191 shares of the company's stock worth $57,000 after purchasing an additional 85 shares during the last quarter.
Insider Buying and Selling at Lithia Motors
In related news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the sale, the director now directly owns 2,228 shares of the company's stock, valued at approximately $566,847.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.79% of the company's stock.
Lithia Motors Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Lithia Motors's previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.77%. Lithia Motors's payout ratio is presently 6.26%.
About Lithia Motors
(Get Free Report)
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.
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