Lithia Motors, Inc. (NYSE:LAD - Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.53 per share on Friday, November 15th. This represents a $2.12 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, November 8th.
Lithia Motors has increased its dividend by an average of 16.3% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Lithia Motors has a dividend payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lithia Motors to earn $33.78 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 6.3%.
LAD opened at $335.35 on Thursday. The firm has a 50-day moving average price of $298.20 and a 200-day moving average price of $274.40. Lithia Motors has a twelve month low of $231.36 and a twelve month high of $341.84. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.30 and a beta of 1.64.
Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share for the quarter, beating the consensus estimate of $7.09 by $0.78. The firm had revenue of $9.23 billion for the quarter, compared to analysts' expectations of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $10.91 earnings per share. Equities analysts expect that Lithia Motors will post 28.74 EPS for the current year.
In other news, Director Shauna Mcintyre sold 306 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares of the company's stock, valued at approximately $556,707.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Shauna Mcintyre sold 306 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares of the company's stock, valued at approximately $556,707.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now owns 46,129 shares of the company's stock, valued at $13,417,080.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,021 shares of company stock worth $6,534,617 over the last ninety days. Insiders own 1.79% of the company's stock.
Several research firms have recently weighed in on LAD. Stephens initiated coverage on shares of Lithia Motors in a report on Thursday, September 12th. They issued an "overweight" rating and a $360.00 price target on the stock. Guggenheim upgraded Lithia Motors from a "neutral" rating to a "buy" rating and set a $338.00 target price on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Lithia Motors from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Tuesday, September 10th. Morgan Stanley raised Lithia Motors from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $225.00 to $310.00 in a report on Wednesday, September 25th. Finally, Citigroup lifted their target price on shares of Lithia Motors from $280.00 to $320.00 and gave the company a "neutral" rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Lithia Motors has a consensus rating of "Hold" and an average target price of $337.70.
Get Our Latest Report on Lithia Motors
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.
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