Lithia Motors, Inc. (NYSE:LAD) to Issue Quarterly Dividend of $0.53

Lithia Motors, Inc. (NYSE:LAD) declared 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 0.60%. The ex-dividend date is Friday, November 8th.

Lithia Motors has increased its dividend by an average of 16.3% annually over the last three years and has raised its dividend every year for the last 15 years. Lithia Motors has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lithia Motors to earn $33.70 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%.

Lithia Motors Stock Performance

NYSE:LAD opened at $350.50 on Wednesday. Lithia Motors has a 1-year low of $243.00 and a 1-year high of $351.02. The firm has a 50 day simple moving average of $306.85 and a 200-day simple moving average of $279.10. The firm has a market cap of $9.34 billion, a PE ratio of 11.96 and a beta of 1.63. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.60 by $0.61. The business had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $9.25 earnings per share. On average, equities analysts expect that Lithia Motors will post 28.88 EPS for the current year.

Insider Buying and Selling

In related news, Director Sidney B. Deboer sold 10,777 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the transaction, the director now owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Sidney B. Deboer sold 11,938 shares of the firm’s 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 transaction, the director now directly owns 46,129 shares in the company, valued at approximately $13,417,080.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the transaction, the director now directly owns 35,352 shares of the company’s stock, valued at $9,754,677.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,235 shares of company stock valued at $9,301,973 in the last quarter. Company insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LAD shares. Citigroup raised their target price on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America lifted their target price on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Stephens increased their target price on shares of Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price target on shares of Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Lithia Motors has an average rating of “Hold” and a consensus price target of $353.80.

About 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.