Lithia Motors (NYSE:LAD) Posts Earnings Results, Beats Expectations By $0.61 EPS

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

Lithia Motors Stock Down 0.7 %

Shares of Lithia Motors stock traded down $2.22 during midday trading on Friday, reaching $333.10. 325,155 shares of the company’s stock traded hands, compared to its average volume of 257,049. 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 has a 52 week low of $233.88 and a 52 week high of $341.84. The company’s 50 day simple moving average is $299.91 and its 200 day simple moving average is $275.20. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 9.83 and a beta of 1.64.

Lithia Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, November 8th. Lithia Motors’s dividend payout ratio is 6.26%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LAD shares. Morgan Stanley raised shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. Guggenheim increased their price objective on Lithia Motors from $350.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America raised their price objective on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, Citigroup raised their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $350.80.

Insider Buying and Selling

In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now directly owns 1,922 shares in the company, valued at $556,707.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Chris Holzshu sold 8,520 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the completion of the sale, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at approximately $10,744,821.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shauna Mcintyre sold 306 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now directly owns 1,922 shares in the company, valued at approximately $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 31,541 shares of company stock worth $9,390,606. Corporate insiders own 1.79% of the company’s stock.

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.