Zacks Research Comments on Lithia Motors, Inc.’s Q3 2024 Earnings (NYSE:LAD)

Lithia Motors, Inc. (NYSE:LAD) – Equities research analysts at Zacks Research raised their Q3 2024 earnings per share estimates for shares of Lithia Motors in a research note issued to investors on Monday, September 30th. Zacks Research analyst R. Singhi now expects that the company will post earnings per share of $7.61 for the quarter, up from their prior 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.

Several other research firms have also weighed in on LAD. JPMorgan Chase & Co. lifted their price objective on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group lifted their price objective on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. StockNews.com lowered Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on Lithia Motors from $266.00 to $302.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Stephens initiated coverage on Lithia Motors in a research note on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Lithia Motors currently has an average rating of “Hold” and a consensus target price of $338.00.

Lithia Motors Stock Down 3.2 %

Shares of NYSE:LAD opened at $307.19 on Wednesday. The stock’s 50-day moving average price is $287.24 and its two-hundred day moving average price is $272.39. The company has a current ratio of 1.19, a quick ratio of 0.30 and a debt-to-equity ratio of 1.26. Lithia Motors has a 12-month low of $231.36 and a 12-month high of $331.96. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 0.30 and a beta of 1.64.

Lithia Motors (NYSE:LAD) last issued its quarterly 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 firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company earned $10.91 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, August 9th. Lithia Motors’s dividend payout ratio (DPR) is presently 6.26%.

Insider Buying and Selling

In related news, Director Sidney B. Deboer sold 10,777 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the sale, the director now directly owns 1,922 shares in the company, valued at approximately $556,707.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $275.93, for a total value of $2,973,697.61. Following the sale, the director now owns 35,352 shares in the company, valued at $9,754,677.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,021 shares of company stock valued at $6,534,617. Corporate insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased 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 during the last quarter. Rise Advisors LLC increased its holdings in shares of Lithia Motors by 80.2% in the 1st quarter. Rise Advisors LLC now owns 191 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Lithia Motors in the 4th quarter valued at approximately $67,000. McClarren Financial Advisors Inc. increased its holdings in shares of Lithia Motors by 12,500.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company’s stock valued at $64,000 after acquiring an additional 250 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lithia Motors in the 2nd quarter valued at approximately $80,000.

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.