Lithia Motors, Inc. to Post Q1 2024 Earnings of $7.60 Per Share, Seaport Res Ptn Forecasts (NYSE:LAD)

Lithia Motors, Inc. (NYSE:LAD) – Investment analysts at Seaport Res Ptn cut their Q1 2024 earnings per share estimates for shares of Lithia Motors in a research note issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $7.60 per share for the quarter, down from their prior estimate of $8.23. The consensus estimate for Lithia Motors’ current full-year earnings is $35.35 per share.

Several other equities analysts have also commented on LAD. Evercore ISI assumed coverage on Lithia Motors in a research report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 price target on the stock. Bank of America boosted their price target on Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their target price on Lithia Motors from $298.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Stephens reaffirmed an “overweight” rating and issued a $375.00 target price on shares of Lithia Motors in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group upped their target price on Lithia Motors from $300.00 to $334.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $334.60.

Lithia Motors Stock Performance

Lithia Motors stock opened at $264.58 on Monday. The stock’s 50 day moving average price is $285.95 and its 200 day moving average price is $284.10. The firm has a market capitalization of $7.28 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.45 and a current ratio of 1.41. Lithia Motors has a one year low of $206.69 and a one year high of $331.96.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, February 14th. The company reported $8.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.11 by $0.13. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.05 EPS.

Lithia Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were issued a $0.50 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.76%. Lithia Motors’s dividend payout ratio (DPR) is 5.51%.

Insider Activity

In other news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the sale, the director now directly owns 1,662 shares in the company, valued at approximately $495,010.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

A number of institutional investors have recently made changes to their positions in the company. Mariner LLC grew its stake in Lithia Motors by 4.1% during the 3rd quarter. Mariner LLC now owns 4,401 shares of the company’s stock worth $1,300,000 after buying an additional 174 shares during the last quarter. American Century Companies Inc. grew its stake in Lithia Motors by 33.7% during the 3rd quarter. American Century Companies Inc. now owns 35,164 shares of the company’s stock worth $10,385,000 after buying an additional 8,862 shares during the last quarter. Citigroup Inc. grew its stake in Lithia Motors by 95.6% during the 3rd quarter. Citigroup Inc. now owns 12,649 shares of the company’s stock worth $3,736,000 after buying an additional 6,181 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Lithia Motors by 93.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 9,412 shares of the company’s stock worth $2,780,000 after buying an additional 4,541 shares during the last quarter. Finally, Comerica Bank bought a new position in Lithia Motors during the 3rd quarter worth $4,608,000.

About Lithia Motors

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.