Lithia Motors, Inc. (LAD) To Go Ex-Dividend on May 9th

Lithia Motors, Inc. (NYSE:LAD) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.53 per share on Friday, May 24th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50.

Lithia Motors has increased its dividend payment 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 5.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lithia Motors to earn $39.26 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 5.4%.

Lithia Motors Trading Up 3.5 %

NYSE:LAD opened at $262.33 on Tuesday. The company has a fifty day moving average of $279.02 and a 200 day moving average of $283.17. Lithia Motors has a 52 week low of $207.08 and a 52 week high of $331.96. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $7.19 billion, a P/E ratio of 7.75, a P/E/G ratio of 2.31 and a beta of 1.59.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the company earned $8.44 earnings per share. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, research analysts predict that Lithia Motors will post 32.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stephens reiterated an “overweight” rating and set a $375.00 price target on shares of Lithia Motors in a report on Wednesday, February 14th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Morgan Stanley raised their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. dropped their target price on shares of Lithia Motors from $285.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company dropped their target price on shares of Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Lithia Motors currently has an average rating of “Hold” and an average price target of $318.55.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the transaction, the director now directly owns 1,662 shares in the company, valued at approximately $495,010.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.79% of the stock is owned by company insiders.

Lithia Motors Company Profile

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.