Lithia Motors (LAD) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Lithia Motors (NYSE:LAD) posted its quarterly earnings results on Wednesday. The company reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.06, Bloomberg Earnings reports. Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. Lithia Motors updated its FY18 guidance to $10.50 EPS.
Shares of Lithia Motors (NYSE LAD) opened at $118.05 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.26 and a current ratio of 1.21. Lithia Motors has a 12 month low of $80.88 and a 12 month high of $127.99. The firm has a market cap of $2,942.55, a P/E ratio of 14.34, a PEG ratio of 0.61 and a beta of 1.66.
LAD has been the subject of several research analyst reports. Bank of America raised shares of Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price target for the company in a research note on Monday, January 8th. Zacks Investment Research raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, KeyCorp reaffirmed a “buy” rating and set a $130.00 price target on shares of Lithia Motors in a research note on Monday, November 13th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Lithia Motors currently has an average rating of “Buy” and an average price target of $127.33.
Large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new position in Lithia Motors in the third quarter worth approximately $144,000. Public Employees Retirement System of Ohio raised its stake in Lithia Motors by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock worth $170,000 after buying an additional 204 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in Lithia Motors by 174.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock worth $188,000 after buying an additional 1,053 shares in the last quarter. Koch Industries Inc. bought a new position in Lithia Motors in the second quarter worth approximately $201,000. Finally, Eqis Capital Management Inc. bought a new position in Lithia Motors in the third quarter worth approximately $202,000.
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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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