Lithia Motors Inc. (LAD) Set to Announce Earnings on Thursday
Lithia Motors Inc. (NYSE:LAD) is scheduled to be releasing its Q316 earnings data on Thursday, October 20th. Analysts expect Lithia Motors to post earnings of $2.17 per share and revenue of $2.25 billion for the quarter. Lithia Motors has set its Q3 guidance at $2.11-2.15 EPS and its FY16 guidance at $7.50-7.65 EPS.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.03. Lithia Motors had a return on equity of 23.42% and a net margin of 2.23%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. On average, analysts expect Lithia Motors to post $7.65 EPS for the current fiscal year and $8.36 EPS for the next fiscal year.
Shares of Lithia Motors Inc. (NYSE:LAD) opened at 93.37 on Wednesday. Lithia Motors Inc. has a 12 month low of $68.70 and a 12 month high of $126.56. The firm has a 50-day moving average price of $90.92 and a 200-day moving average price of $83.20. The company has a market capitalization of $2.35 billion, a PE ratio of 13.34 and a beta of 1.97.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/lithia-motors-inc-lad-set-to-announce-earnings-on-thursday.html
In other news, Director Sidney B. Deboer sold 17,600 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $95.00, for a total value of $1,672,000.00. Following the transaction, the director now directly owns 138,077 shares of the company’s stock, valued at approximately $13,117,315. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.41% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pine River Capital Management L.P. increased its position in Lithia Motors by 88.0% in the second quarter. Pine River Capital Management L.P. now owns 47,000 shares of the company’s stock worth $3,340,000 after buying an additional 22,000 shares during the period. Point72 Asset Management L.P. increased its position in Lithia Motors by 1,789.5% in the second quarter. Point72 Asset Management L.P. now owns 35,900 shares of the company’s stock worth $2,551,000 after buying an additional 34,000 shares during the period. Arizona State Retirement System increased its position in Lithia Motors by 5.1% in the second quarter. Arizona State Retirement System now owns 12,390 shares of the company’s stock worth $881,000 after buying an additional 600 shares during the period. Highbridge Capital Management LLC purchased a new position in Lithia Motors during the second quarter worth $684,000. Finally, Westwood Holdings Group Inc. increased its position in Lithia Motors by 28.5% in the second quarter. Westwood Holdings Group Inc. now owns 157,751 shares of the company’s stock worth $11,212,000 after buying an additional 34,940 shares during the period. 92.90% of the stock is currently owned by institutional investors and hedge funds.
LAD has been the subject of a number of analyst reports. Zacks Investment Research upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Wolfe Research initiated coverage on Lithia Motors in a research note on Wednesday, August 31st. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $110.50.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and services. The Company operates in three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
Receive News & Ratings for Lithia Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.