Lithia Motors, Inc. (LAD) To Go Ex-Dividend on May 8th

Lithia Motors, Inc. (NYSE:LAD) declared a quarterly dividend on Monday, April 27th. Investors of record on Friday, May 8th will be paid a dividend of 0.57 per share on Friday, May 22nd. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 8th. This is a 3.6% increase from Lithia Motors’s previous quarterly dividend of $0.55.

Lithia Motors has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 16 consecutive years. Lithia Motors has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lithia Motors to earn $40.59 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 5.6%.

Lithia Motors Stock Up 1.6%

Shares of Lithia Motors stock opened at $286.43 on Wednesday. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.62 and a beta of 1.28. The company’s 50 day moving average is $267.01 and its 200 day moving average is $302.46. Lithia Motors has a twelve month low of $239.78 and a twelve month high of $360.55. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The business had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm earned $7.66 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts anticipate that Lithia Motors will post 34.58 EPS for the current year.

Analyst Ratings Changes

LAD has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of Lithia Motors from $293.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Citigroup increased their price target on shares of Lithia Motors from $326.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Lithia Motors from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Bank of America decreased their price target on shares of Lithia Motors from $335.00 to $320.00 in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lithia Motors from $335.00 to $320.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $366.67.

Lithia Motors Company Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.