Lithia Motors, Inc. (LAD) to Release Quarterly Earnings on Wednesday
Lithia Motors, Inc. (NYSE:LAD) will be issuing its quarterly earnings data before the market opens on Wednesday, October 18th. Analysts expect the company to announce earnings of $2.31 per share for the quarter. Lithia Motors has set its FY17 guidance at $8.35-8.50 EPS.
Lithia Motors (NYSE:LAD) last issued its earnings results on Friday, July 28th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.05. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the company posted $1.96 earnings per share. Lithia Motors’s revenue was up 15.6% on a year-over-year basis. On average, analysts expect Lithia Motors to post $8.64 EPS for the current fiscal year and $9.46 EPS for the next fiscal year.
Lithia Motors, Inc. (LAD) opened at 114.72 on Monday. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $123.50. The company has a market cap of $2.87 billion, a PE ratio of 13.83 and a beta of 1.71. The firm has a 50-day moving average of $113.77 and a 200-day moving average of $98.86.
In other Lithia Motors news, Director Susan O. Cain sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $105.64, for a total transaction of $105,640.00. Following the sale, the director now directly owns 12,242 shares of the company’s stock, valued at $1,293,244.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bryan B. Deboer sold 20,820 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $104.13, for a total transaction of $2,167,986.60. Following the sale, the chief executive officer now directly owns 101,004 shares in the company, valued at $10,517,546.52. The disclosure for this sale can be found here. Insiders have sold 218,337 shares of company stock worth $24,430,932 over the last ninety days. Insiders own 7.85% of the company’s stock.
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A number of analysts recently weighed in on the stock. Berenberg Bank assumed coverage on shares of Lithia Motors in a research note on Wednesday, October 4th. They issued a “hold” rating and a $126.00 target price on the stock. KeyCorp reaffirmed a “buy” rating and set a $130.00 price objective (up from $119.00) on shares of Lithia Motors in a research note on Wednesday, October 4th. Zacks Investment Research cut shares of Lithia Motors from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $116.00 price objective (up from $106.00) on shares of Lithia Motors in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Lithia Motors in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Lithia Motors presently has a consensus rating of “Hold” and a consensus target price of $116.00.
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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