Lithia Motors, Inc. (NYSE:LAD) Announces $0.53 Quarterly Dividend

Lithia Motors, Inc. (NYSE:LAD) declared a quarterly dividend on Monday, February 10th, Wall Street Journal reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.53 per share on Friday, March 21st. This represents a $2.12 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, March 7th.

Lithia Motors has increased its dividend payment by an average of 15.4% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Lithia Motors has a dividend payout ratio of 5.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lithia Motors to earn $40.30 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 5.3%.

Lithia Motors Trading Down 0.3 %

Shares of NYSE:LAD traded down $0.86 during mid-day trading on Wednesday, reaching $317.25. 10,195 shares of the company were exchanged, compared to its average volume of 375,987. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 4.65 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors has a 1 year low of $243.00 and a 1 year high of $405.67. The firm’s 50-day simple moving average is $358.44 and its 200 day simple moving average is $341.38.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. Equities research analysts forecast that Lithia Motors will post 34.45 EPS for the current year.

Insider Activity

In other news, COO Adam Chamberlain sold 403 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the completion of the sale, the chief operating officer now directly owns 2,605 shares of the company’s stock, valued at $1,001,049.40. This trade represents a 13.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary M. Glandon sold 325 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total value of $126,054.50. Following the completion of the transaction, the insider now owns 1,665 shares of the company’s stock, valued at $645,786.90. The trade was a 16.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Lithia Motors from $346.00 to $397.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Benchmark reiterated a “buy” rating and issued a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Lithia Motors from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI boosted their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Guggenheim raised their price target on Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $371.36.

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.