FY2017 EPS Estimates for Lithia Motors, Inc. (NYSE:LAD) Raised by Analyst
Lithia Motors, Inc. (NYSE:LAD) – Research analysts at KeyCorp upped their FY2017 EPS estimates for shares of Lithia Motors in a report released on Wednesday. KeyCorp analyst B. Hoselton now forecasts that the company will post earnings per share of $8.60 for the year, up from their previous estimate of $8.40. KeyCorp also issued estimates for Lithia Motors’ Q4 2017 earnings at $2.16 EPS and FY2018 earnings at $9.54 EPS.
Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “FY2017 EPS Estimates for Lithia Motors, Inc. (NYSE:LAD) Raised by Analyst” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/fy2017-eps-estimates-for-lithia-motors-inc-nyselad-raised-by-analyst/1472291.html.
Other equities research analysts have also issued reports about the company. Jefferies Group LLC reiterated a “buy” rating and set a $125.00 price objective on shares of Lithia Motors in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Lithia Motors from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Tuesday, April 25th. BidaskClub upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Seaport Global Securities started coverage on Lithia Motors in a report on Wednesday, June 14th. They set a “neutral” rating on the stock. Finally, Morgan Stanley restated an “overweight” rating and set a $116.00 target price (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $109.17.
Lithia Motors (NYSE LAD) traded up 0.94% during midday trading on Friday, hitting $104.24. The company had a trading volume of 59,034 shares. Lithia Motors has a 52 week low of $75.85 and a 52 week high of $109.42. The stock has a 50 day moving average price of $97.44 and a 200 day moving average price of $94.03. The company has a market capitalization of $2.61 billion, a P/E ratio of 12.57 and a beta of 1.73.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, August 9th. Lithia Motors’s dividend payout ratio is currently 13.01%.
In other news, CEO Bryan B. Deboer sold 7,466 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $95.00, for a total transaction of $709,270.00. Following the transaction, the chief executive officer now directly owns 114,183 shares in the company, valued at approximately $10,847,385. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Bryan B. Deboer sold 316 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $97.19, for a total value of $30,712.04. Following the transaction, the chief executive officer now owns 113,867 shares in the company, valued at $11,066,733.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,296 shares of company stock worth $20,951,694. Insiders own 7.85% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tyers Asset Management LLC boosted its position in Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock worth $110,000 after buying an additional 224 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lithia Motors by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock worth $113,000 after buying an additional 105 shares in the last quarter. Flinton Capital Management LLC boosted its position in Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock worth $134,000 after buying an additional 272 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after buying an additional 146 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in Lithia Motors during the first quarter worth approximately $176,000. Institutional investors and hedge funds own 97.34% of the company’s stock.
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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