Lithia Motors Inc. (LAD) Set to Announce Earnings on Thursday
Lithia Motors Inc. (NYSE:LAD) is scheduled to issue its Q316 quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $2.17 per share and revenue of $2.25 billion for the quarter. Lithia Motors has set its Q3 guidance at $2.11-2.15 EPS and its FY16 guidance at $7.50-7.65 EPS.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.03. Lithia Motors had a net margin of 2.23% and a return on equity of 23.42%. The business earned $2.13 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the firm posted $1.86 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts expect Lithia Motors to post $7.65 EPS for the current fiscal year and $8.36 EPS for the next fiscal year.
Shares of Lithia Motors Inc. (NYSE:LAD) opened at 95.72 on Tuesday. The company has a market capitalization of $2.41 billion, a P/E ratio of 13.68 and a beta of 1.97. Lithia Motors Inc. has a 12 month low of $68.70 and a 12 month high of $126.56. The firm has a 50-day moving average of $90.59 and a 200-day moving average of $83.14.
In related news, Director Sidney B. Deboer sold 17,600 shares of Lithia Motors stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $93.00, for a total transaction of $1,636,800.00. Following the completion of the transaction, the director now directly owns 155,677 shares of the company’s stock, valued at approximately $14,477,961. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 11.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Investment Management LLC boosted its position in shares of Lithia Motors by 11.4% in the second quarter. BlackRock Investment Management LLC now owns 98,989 shares of the company’s stock worth $7,035,000 after buying an additional 10,123 shares during the period. BlackRock Inc. boosted its position in shares of Lithia Motors by 28.5% in the second quarter. BlackRock Inc. now owns 1,982 shares of the company’s stock worth $141,000 after buying an additional 440 shares during the period. BlackRock Fund Advisors boosted its position in shares of Lithia Motors by 5.8% in the second quarter. BlackRock Fund Advisors now owns 1,511,266 shares of the company’s stock worth $107,406,000 after buying an additional 82,261 shares during the period. BlackRock Group LTD boosted its position in shares of Lithia Motors by 10.9% in the second quarter. BlackRock Group LTD now owns 30,861 shares of the company’s stock worth $2,194,000 after buying an additional 3,029 shares during the period. Finally, Trexquant Investment LP boosted its position in shares of Lithia Motors by 67.5% in the second quarter. Trexquant Investment LP now owns 13,900 shares of the company’s stock worth $988,000 after buying an additional 5,600 shares during the period. 92.90% of the stock is owned by institutional investors.
LAD has been the topic of a number of recent analyst reports. Wolfe Research started coverage on shares of Lithia Motors in a report on Wednesday, August 31st. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday, October 4th. Five equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $110.50.
About Lithia Motors
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and services. The Company operates in three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
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