Brokerages forecast that Lithia Motors Inc (NYSE:LAD) will report $2.61 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Lithia Motors’ earnings, with the highest sales estimate coming in at $2.66 billion and the lowest estimate coming in at $2.56 billion. Lithia Motors posted sales of $2.24 billion in the same quarter last year, which would indicate a positive year over year growth rate of 16.5%. The business is expected to issue its next earnings results before the market opens on Wednesday, April 25th.
On average, analysts expect that Lithia Motors will report full year sales of $11.41 billion for the current fiscal year, with estimates ranging from $11.30 billion to $11.52 billion. For the next year, analysts forecast that the business will report sales of $12.50 billion per share, with estimates ranging from $12.31 billion to $12.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Lithia Motors.
Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, February 14th. The company reported $2.15 EPS for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.06. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. Lithia Motors had a return on equity of 20.81% and a net margin of 2.43%. Lithia Motors’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share.
In other news, Director Kenneth E. Roberts sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $126.00, for a total transaction of $630,000.00. Following the completion of the transaction, the director now directly owns 105,064 shares of the company’s stock, valued at approximately $13,238,064. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.95% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Elkfork Partners LLC acquired a new position in shares of Lithia Motors during the 4th quarter worth approximately $312,000. Xact Kapitalforvaltning AB acquired a new position in Lithia Motors in the 4th quarter valued at $291,000. Envestnet Asset Management Inc. raised its stake in Lithia Motors by 2.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,188 shares of the company’s stock valued at $2,407,000 after purchasing an additional 560 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Lithia Motors in the 4th quarter valued at $1,195,000. Finally, Park West Asset Management LLC raised its stake in Lithia Motors by 1.6% in the 4th quarter. Park West Asset Management LLC now owns 782,165 shares of the company’s stock valued at $88,846,000 after purchasing an additional 12,034 shares during the last quarter.
NYSE LAD traded up $1.69 during trading hours on Friday, reaching $104.10. The stock had a trading volume of 128,814 shares, compared to its average volume of 270,701. The company has a quick ratio of 0.28, a current ratio of 1.21 and a debt-to-equity ratio of 0.95. Lithia Motors has a 52-week low of $81.71 and a 52-week high of $127.99. The firm has a market cap of $2,562.30, a P/E ratio of 12.38, a P/E/G ratio of 0.48 and a beta of 1.72.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, March 8th. Lithia Motors’s payout ratio is 12.87%.
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About Lithia Motors
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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