Lithia Motors, Inc. (NYSE:LAD) Forecasted to Earn Q3 2024 Earnings of $7.61 Per Share

Lithia Motors, Inc. (NYSE:LAD) – Equities researchers at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for Lithia Motors in a note issued to investors on Monday, September 30th. Zacks Research analyst R. Singhi now anticipates that the company will earn $7.61 per share for the quarter, up from their previous estimate of $7.58. The consensus estimate for Lithia Motors’ current full-year earnings is $28.78 per share. Zacks Research also issued estimates for Lithia Motors’ Q4 2024 earnings at $6.95 EPS, FY2024 earnings at $28.54 EPS and Q3 2026 earnings at $11.29 EPS.

Lithia Motors (NYSE:LAD) last issued its earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period last year, the business earned $10.91 EPS. Lithia Motors’s quarterly revenue was up 13.8% compared to the same quarter last year.

Several other research firms have also issued reports on LAD. Bank of America upped their target price on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Stephens started coverage on Lithia Motors in a research note on Thursday, September 12th. They issued an “overweight” rating and a $360.00 target price on the stock. The Goldman Sachs Group increased their price target on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Guggenheim raised Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price objective on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley raised Lithia Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $225.00 to $310.00 in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $338.00.

Lithia Motors Trading Down 1.4 %

LAD opened at $302.97 on Wednesday. The firm has a market capitalization of $8.30 billion, a PE ratio of 8.95, a P/E/G ratio of 0.30 and a beta of 1.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.19 and a quick ratio of 0.30. Lithia Motors has a fifty-two week low of $231.36 and a fifty-two week high of $331.96. The company’s 50-day moving average is $288.40 and its 200 day moving average is $272.64.

Institutional Trading of Lithia Motors

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers increased its holdings in shares of Lithia Motors by 1.3% in the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock worth $975,000 after purchasing an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Lithia Motors by 12.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock valued at $116,000 after acquiring an additional 52 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Lithia Motors by 83.6% in the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock valued at $34,000 after acquiring an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Lithia Motors by 13.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock valued at $167,000 after acquiring an additional 65 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Lithia Motors by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,628 shares of the company’s stock valued at $663,000 after purchasing an additional 72 shares in the last quarter.

Insider Activity

In related news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now directly owns 46,129 shares in the company, valued at approximately $13,417,080.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Shauna Mcintyre sold 306 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the transaction, the director now directly owns 1,922 shares in the company, valued at $556,707.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sidney B. Deboer sold 11,938 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares of the company’s stock, valued at approximately $13,417,080.94. The disclosure for this sale can be found here. Insiders have sold a total of 23,021 shares of company stock valued at $6,534,617 over the last quarter. Company insiders own 1.79% of the company’s stock.

Lithia Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.70%. Lithia Motors’s payout ratio is 6.26%.

Lithia Motors Company Profile

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.