Seaport Global Securities Weighs in on Lithia Motors, Inc.’s FY2017 Earnings (LAD)
Lithia Motors, Inc. (NYSE:LAD) – Seaport Global Securities issued their FY2017 earnings estimates for Lithia Motors in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Ward expects that the company will earn $8.30 per share for the year. Seaport Global Securities also issued estimates for Lithia Motors’ Q4 2017 earnings at $2.04 EPS, Q1 2018 earnings at $1.99 EPS, Q2 2018 earnings at $2.62 EPS, Q3 2018 earnings at $2.41 EPS, Q4 2018 earnings at $2.18 EPS and FY2018 earnings at $9.20 EPS.
A number of other equities research analysts also recently issued reports on LAD. KeyCorp reiterated a “buy” rating and issued a $130.00 target price on shares of Lithia Motors in a research report on Monday. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price for the company in a research report on Wednesday, August 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $125.00 target price on shares of Lithia Motors in a research report on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $116.00 target price (up previously from $106.00) on shares of Lithia Motors in a research report on Wednesday, August 2nd. Finally, Berenberg Bank assumed coverage on shares of Lithia Motors in a research report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $116.29.
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Shares of Lithia Motors (LAD) opened at $113.80 on Monday. Lithia Motors has a 12-month low of $80.88 and a 12-month high of $123.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26. The stock has a market cap of $2,821.00, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.96 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.19). Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the company earned $2.06 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. Lithia Motors’s dividend payout ratio (DPR) is 13.12%.
In related news, insider George Chun-Wai Liang sold 1,970 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $105.62, for a total value of $208,071.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John F. North sold 3,959 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $104.50, for a total transaction of $413,715.50. Following the completion of the transaction, the insider now owns 9,095 shares in the company, valued at $950,427.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,581 shares of company stock worth $16,905,722. 7.85% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of LAD. Victory Capital Management Inc. grew its stake in Lithia Motors by 139.5% in the 2nd quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock valued at $90,063,000 after buying an additional 556,684 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in Lithia Motors by 6,308.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 383,516 shares of the company’s stock valued at $4,070,000 after buying an additional 377,531 shares during the last quarter. Aberdeen Asset Management PLC UK acquired a new position in Lithia Motors in the 2nd quarter valued at $32,031,000. Koch Industries Inc. acquired a new position in Lithia Motors in the 2nd quarter valued at $201,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in Lithia Motors in the 3rd quarter valued at $20,620,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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