Lithia Motors, Inc. to Post Q3 2017 Earnings of $2.29 Per Share, Seaport Global Securities Forecasts (NYSE:LAD)
Lithia Motors, Inc. (NYSE:LAD) – Analysts at Seaport Global Securities boosted their Q3 2017 EPS estimates for shares of Lithia Motors in a research note issued to investors on Friday. Seaport Global Securities analyst M. Ward now expects that the company will post earnings of $2.29 per share for the quarter, up from their prior forecast of $2.19. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Lithia Motors’ Q4 2017 earnings at $2.06 EPS, FY2017 earnings at $8.40 EPS, Q2 2018 earnings at $2.36 EPS, Q3 2018 earnings at $2.35 EPS and Q4 2018 earnings at $2.10 EPS.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.05. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share.
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Several other equities research analysts have also commented on the stock. Bank of America Corporation lowered shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price target for the company. in a research report on Friday, June 16th. Zacks Investment Research lowered shares of Lithia Motors from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Lithia Motors in a research report on Wednesday, June 28th. Morgan Stanley reduced their price target on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. 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. The stock currently has an average rating of “Hold” and an average price target of $109.17.
Lithia Motors (LAD) opened at 102.62 on Monday. The company’s 50-day moving average is $95.35 and its 200 day moving average is $93.79. Lithia Motors has a 52-week low of $75.85 and a 52-week high of $109.42. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 12.37 and a beta of 1.73.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tyers Asset Management LLC increased its position in shares of Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock worth $110,000 after buying an additional 224 shares during the period. Flinton Capital Management LLC increased its position in shares of Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock worth $134,000 after buying an additional 272 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of 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 worth $137,000 after buying an additional 146 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Lithia Motors during the first quarter worth about $176,000. Finally, Pitcairn Co. bought a new position in shares of Lithia Motors during the second quarter worth about $211,000. Institutional investors own 99.10% of the company’s stock.
In other news, Director Sidney B. Deboer sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $98.00, for a total transaction of $490,000.00. Following the completion of the sale, the director now owns 79,468 shares of the company’s stock, valued at approximately $7,787,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bryan B. Deboer sold 7,466 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $95.00, for a total transaction of $709,270.00. Following the sale, 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. Insiders have sold a total of 208,296 shares of company stock valued at $20,846,054 in the last ninety days. Insiders own 7.85% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, August 9th. Lithia Motors’s payout ratio is currently 13.01%.
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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