Lithia Motors, Inc. (NYSE:LAD) announced a quarterly dividend on Friday, July 28th, Wall Street Journal reports. Investors of record on Friday, August 11th will be given a dividend of 0.27 per share on Friday, August 25th. This represents a $1.08 annualized dividend and a yield of 1.04%. The ex-dividend date is Wednesday, August 9th.
Lithia Motors has increased its dividend payment by an average of 34.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Lithia Motors has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lithia Motors to earn $8.77 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 12.3%.
Shares of Lithia Motors (NYSE:LAD) opened at 104.29 on Tuesday. The company’s 50-day moving average price is $95.35 and its 200 day moving average price is $93.79. Lithia Motors has a 12-month low of $75.85 and a 12-month high of $109.42. The firm has a market capitalization of $2.62 billion, a PE ratio of 12.57 and a beta of 1.73.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Friday, July 28th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.23 by $0.05. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.45 billion. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. Lithia Motors’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. On average, equities analysts forecast that Lithia Motors will post $8.43 earnings per share for the current year.
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Several research firms have issued reports on LAD. Bank of America Corporation downgraded Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 target price on the stock. in a research report on Friday, June 16th. Morgan Stanley restated an “overweight” rating and set a $116.00 target price (up previously from $106.00) on shares of Lithia Motors in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded Lithia Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BidaskClub upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC restated a “buy” rating and set a $115.00 target price on shares of Lithia Motors in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Lithia Motors presently has an average rating of “Hold” and an average target price of $109.17.
In related news, Director Sidney B. Deboer sold 81,444 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $99.39, for a total value of $8,094,719.16. Following the transaction, the director now owns 48,668 shares of the company’s stock, valued at $4,837,112.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sidney B. Deboer sold 71,756 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $103.40, for a total value of $7,419,570.40. Following the completion of the transaction, the director now directly owns 28,668 shares in the company, valued at approximately $2,964,271.20. The disclosure for this sale can be found here. In the last three months, insiders sold 208,296 shares of company stock worth $20,846,054. 7.85% of the stock is owned by insiders.
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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