Lithia Motors, Inc. (NYSE:LAD) Releases FY17 Earnings Guidance
Lithia Motors, Inc. (NYSE:LAD) updated its FY17 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $8.35-8.50 for the period, compared to the Thomson Reuters consensus estimate of $8.30. The company issued revenue guidance of $9.6-9.9 billion, compared to the consensus revenue estimate of $9.63 billion.
Lithia Motors, Inc. (NYSE:LAD) opened at 100.05 on Friday. The stock’s 50 day moving average price is $94.48 and its 200-day moving average price is $93.84. Lithia Motors, Inc. has a 52-week low of $75.85 and a 52-week high of $105.32. The company has a market capitalization of $2.51 billion, a P/E ratio of 12.22 and a beta of 1.73.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Friday, July 28th. The company reported $2.28 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Lithia Motors had a return on equity of 21.91% and a net margin of 2.32%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. Analysts predict that Lithia Motors, Inc. will post $8.31 earnings per share for the current fiscal year.
LAD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Lithia Motors from a hold rating to a buy rating and set a $104.00 price objective for the company in a research report on Tuesday, April 25th. Jefferies Group LLC restated a buy rating and issued a $115.00 price objective on shares of Lithia Motors in a research report on Wednesday, June 28th. BidaskClub upgraded Lithia Motors from a sell rating to a hold rating in a research report on Wednesday, July 5th. Seaport Global Securities initiated coverage on Lithia Motors in a research report on Wednesday, June 14th. They issued a neutral rating for the company. Finally, Morgan Stanley cut their price objective on Lithia Motors from $115.00 to $106.00 and set an overweight rating for the company in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $105.83.
In related news, Director Susan O. Cain sold 2,317 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $92.49, for a total transaction of $214,299.33. Following the completion of the sale, the director now directly owns 12,242 shares in the company, valued at $1,132,262.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bryan B. Deboer sold 4,687 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $95.00, for a total value of $445,265.00. Following the sale, the chief executive officer now owns 121,649 shares of the company’s stock, valued at $11,556,655. The disclosure for this sale can be found here. Insiders have sold 143,544 shares of company stock valued at $14,086,048 over the last quarter. 7.85% of the stock is owned by company insiders.
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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