$2.68 Billion in Sales Expected for Lithia Motors Inc (LAD) This Quarter
Analysts expect that Lithia Motors Inc (NYSE:LAD) will post sales of $2.68 billion for the current quarter, Zacks reports. Three analysts have made estimates for Lithia Motors’ earnings, with the highest sales estimate coming in at $2.71 billion and the lowest estimate coming in at $2.67 billion. Lithia Motors posted sales of $2.29 billion during the same quarter last year, which suggests a positive year over year growth rate of 17%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, February 14th.
On average, analysts expect that Lithia Motors will report full-year sales of $2.68 billion for the current financial year, with estimates ranging from $10.07 billion to $10.19 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $11.12 billion per share, with estimates ranging from $10.74 billion to $11.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Lithia Motors.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $139.00 price objective for the company in a report on Wednesday, January 10th. KeyCorp restated a “buy” rating and issued a $130.00 target price on shares of Lithia Motors in a research report on Monday, November 13th. Finally, Bank of America upgraded Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 target price for the company in a research report on Monday, January 8th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $127.33.
Large investors have recently made changes to their positions in the company. D.A. Davidson & CO. lifted its position in shares of Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after acquiring an additional 75 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Lithia Motors during the 3rd quarter valued at $144,000. Public Employees Retirement System of Ohio lifted its position in shares of Lithia Motors by 12.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock valued at $170,000 after acquiring an additional 204 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Lithia Motors by 174.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock valued at $188,000 after acquiring an additional 1,053 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Lithia Motors during the 2nd quarter valued at $201,000.
Lithia Motors (NYSE:LAD) opened at $120.28 on Friday. Lithia Motors has a fifty-two week low of $80.88 and a fifty-two week high of $127.99. The stock has a market capitalization of $3,092.55, a P/E ratio of 14.61, a P/E/G ratio of 0.64 and a beta of 1.66. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26.
About Lithia Motors
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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