Brokerages forecast that Lithia Motors Inc (NYSE:LAD) will post earnings of $2.91 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Lithia Motors’ earnings, with estimates ranging from $2.62 to $3.22. Lithia Motors reported earnings of $2.52 per share during the same quarter last year, which suggests a positive year over year growth rate of 15.5%. The business is expected to report its next quarterly earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Lithia Motors will report full year earnings of $11.15 per share for the current fiscal year, with EPS estimates ranging from $10.71 to $11.76. For the next fiscal year, analysts forecast that the firm will post earnings of $11.72 per share, with EPS estimates ranging from $11.00 to $12.75. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Lithia Motors.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.29. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.86 billion. Lithia Motors had a return on equity of 20.68% and a net margin of 2.25%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 earnings per share.
In other news, Director Sidney B. Deboer sold 15,433 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $114.00, for a total transaction of $1,759,362.00. Following the completion of the sale, the director now directly owns 11,144 shares in the company, valued at approximately $1,270,416. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.21% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in LAD. Bank of Montreal Can grew its position in shares of Lithia Motors by 65.8% in the fourth quarter. Bank of Montreal Can now owns 1,096 shares of the company’s stock valued at $84,000 after purchasing an additional 435 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Lithia Motors by 14.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the company’s stock worth $139,000 after acquiring an additional 230 shares during the period. Arizona State Retirement System grew its stake in shares of Lithia Motors by 3.1% in the 4th quarter. Arizona State Retirement System now owns 34,694 shares of the company’s stock worth $2,648,000 after buying an additional 1,031 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Lithia Motors by 36.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,498 shares of the company’s stock valued at $420,000 after acquiring an additional 1,480 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Lithia Motors by 16.5% during the 4th quarter. Rhumbline Advisers now owns 69,605 shares of the company’s stock valued at $5,313,000 after buying an additional 9,844 shares during the period.
LAD stock traded up $0.12 during mid-day trading on Thursday, hitting $118.12. 258,300 shares of the stock were exchanged, compared to its average volume of 252,465. Lithia Motors has a 12 month low of $67.90 and a 12 month high of $121.96. The company has a quick ratio of 0.23, a current ratio of 1.17 and a debt-to-equity ratio of 1.04. The firm has a market cap of $2.75 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18.
The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.30 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.20 annualized dividend and a yield of 1.02%. Lithia Motors’s payout ratio is presently 12.02%.
About Lithia Motors
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
Read More: What is the Coverage Ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lithia Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors and related companies with MarketBeat.com's FREE daily email newsletter.