Analysts Offer Predictions for Lithia Motors, Inc.’s Q2 2024 Earnings (NYSE:LAD) (2024)

Posted by MarketBeat News on May 14th, 2024

Lithia Motors, Inc. (NYSE:LAD – Free Report) – Research analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for shares of Lithia Motors in a report released on Wednesday, May 8th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings per share of $8.66 for the quarter, down from their prior forecast of $9.14. The consensus estimate for Lithia Motors’ current full-year earnings is $29.61 per share. Zacks Research also issued estimates for Lithia Motors’ Q3 2024 earnings at $8.73 EPS, FY2024 earnings at $31.30 EPS, Q1 2025 earnings at $10.15 EPS and FY2025 earnings at $47.17 EPS.

LAD has been the subject of a number of other research reports. Stephens restated an “overweight” rating and issued a $375.00 price target on shares of Lithia Motors in a research report on Wednesday, February 14th. Guggenheim lowered their price objective on Lithia Motors from $320.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Craig Hallum dropped their price target on Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Morgan Stanley lifted their price objective on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $318.55.

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Lithia Motors Trading Up 4.0 %

NYSE:LAD opened at $274.77 on Monday. Lithia Motors has a one year low of $207.08 and a one year high of $331.96. The business has a fifty day moving average price of $275.96 and a 200-day moving average price of $283.80. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 2.63 and a beta of 1.59. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28.

Lithia Motors (NYSE:LAD – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same period in the previous year, the company earned $8.44 EPS. Lithia Motors’s revenue for the quarter was up 22.7% compared to the same quarter last year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.53 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.77%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s dividend payout ratio is currently 6.26%.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 138 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the transaction, the director now owns 2,228 shares in the company, valued at $566,847.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Several hedge funds have recently modified their holdings of the business. FourThought Financial Partners LLC raised its stake in Lithia Motors by 2.4% in the fourth quarter. FourThought Financial Partners LLC now owns 1,609 shares of the company’s stock worth $530,000 after buying an additional 37 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Lithia Motors by 1.1% in the 4th quarter. Xponance Inc. now owns 3,492 shares of the company’s stock valued at $1,150,000 after buying an additional 38 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Lithia Motors by 32.0% in the 3rd quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock worth $68,000 after buying an additional 56 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Lithia Motors by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock worth $5,054,000 after acquiring an additional 59 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Lithia Motors by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock valued at $3,510,000 after acquiring an additional 60 shares in the last quarter.

About Lithia Motors

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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.