Lithia Motors FY2024 EPS Estimate Reduced by Seaport Res Ptn

Lithia Motors, Inc. (NYSE:LAD) – Analysts at Seaport Res Ptn decreased their FY2024 earnings estimates for shares of Lithia Motors in a report issued on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings per share of $27.97 for the year, down from their previous estimate of $28.02. The consensus estimate for Lithia Motors’ current full-year earnings is $28.74 per share. Seaport Res Ptn also issued estimates for Lithia Motors’ Q4 2024 earnings at $6.70 EPS and FY2025 earnings at $31.25 EPS.

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

Several other analysts also recently issued reports on LAD. Wells Fargo & Company decreased their price target on Lithia Motors from $302.00 to $299.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Stephens started coverage on Lithia Motors in a research report on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price objective for the company. Morgan Stanley upgraded Lithia Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. Guggenheim upgraded shares of Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 target price on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Lithia Motors from $315.00 to $375.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $337.70.

Lithia Motors Stock Performance

Shares of LAD stock opened at $335.35 on Wednesday. The stock’s 50-day moving average is $298.20 and its two-hundred day moving average is $274.40. Lithia Motors has a fifty-two week low of $231.36 and a fifty-two week high of $341.84. The firm has a market cap of $9.19 billion, a P/E ratio of 9.90, a PEG 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Lithia Motors by 24.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 49,797 shares of the company’s stock worth $16,397,000 after purchasing an additional 9,818 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Lithia Motors by 132.9% in the first quarter. BNP Paribas Financial Markets now owns 19,138 shares of the company’s stock valued at $5,758,000 after purchasing an additional 10,920 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Lithia Motors during the second quarter worth about $607,000. Comerica Bank grew its position in Lithia Motors by 89.0% in the 1st quarter. Comerica Bank now owns 29,473 shares of the company’s stock worth $8,867,000 after purchasing an additional 13,875 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Lithia Motors by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 203,062 shares of the company’s stock worth $61,318,000 after buying an additional 20,416 shares during the last quarter.

Insider Activity

In related news, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the completion of the sale, the director now directly owns 35,352 shares in the company, valued at $9,754,677.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Shauna Mcintyre sold 306 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now directly owns 1,922 shares in the company, valued at $556,707.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the sale, the director now owns 35,352 shares in the company, valued at $9,754,677.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,021 shares of company stock worth $6,534,617. 1.79% of the stock is currently owned by corporate insiders.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.63%. Lithia Motors’s payout ratio is 6.26%.

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