Lithia Motors, Inc. (NYSE:LAD) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Lithia Motors, Inc. (NYSE:LAD) released its earnings results on Friday. The company reported $2.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.05, MarketWatch Earnings reports. Lithia Motors had a net margin of 2.32% and a return on equity of 21.91%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the business earned $1.96 EPS. The business’s revenue was up 15.6% on a year-over-year basis. Lithia Motors updated its FY17 guidance to $8.35-8.50 EPS.
Shares of Lithia Motors (NYSE LAD) traded up 6.95% during trading on Friday, hitting $107.00. 930,583 shares of the stock were exchanged. Lithia Motors has a 12-month low of $75.85 and a 12-month high of $109.42. The stock has a 50-day moving average of $94.93 and a 200 day moving average of $93.89. The stock has a market cap of $2.69 billion, a P/E ratio of 12.90 and a beta of 1.73.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.01%. Lithia Motors’s dividend payout ratio is presently 13.01%.
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In other news, CEO Bryan B. Deboer sold 4,687 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $95.00, for a total transaction of $445,265.00. Following the completion of the transaction, the chief executive officer now owns 121,649 shares of the company’s stock, valued at $11,556,655. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Bryan B. Deboer sold 7,466 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were 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 of the company’s stock, valued at approximately $10,847,385. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,544 shares of company stock valued at $14,086,048. Corporate insiders own 7.85% of the company’s stock.
A number of large investors have recently bought and sold shares of LAD. Tyers Asset Management LLC increased its stake in Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock valued at $110,000 after buying an additional 224 shares during the last quarter. Flinton Capital Management LLC increased its stake in Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock valued at $134,000 after buying an additional 272 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake 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 valued at $137,000 after buying an additional 146 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Lithia Motors during the first quarter valued at $176,000. Finally, State of Alaska Department of Revenue increased its stake in Lithia Motors by 4.3% in the first quarter. State of Alaska Department of Revenue now owns 2,640 shares of the company’s stock valued at $226,000 after buying an additional 110 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Seaport Global Securities assumed coverage on shares of Lithia Motors in a research note on Wednesday, June 14th. They issued a “neutral” rating for the company. Morgan Stanley reduced their target price on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. Jefferies Group LLC restated a “buy” rating and issued a $115.00 target price on shares of Lithia Motors in a research note on Wednesday, June 28th. Finally, Zacks Investment Research cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Lithia Motors has a consensus rating of “Hold” and an average price target of $105.83.
Lithia Motors Company Profile
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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