Seaport Global Securities also issued estimates for Lithia Motors' Q4 2017 earnings at $2.04 EPS, Q1 2018 earnings at $1.99 EPS, Q2 2018 earnings at $2.62 EPS, Q3 2018 earnings at $2.41 EPS, Q4 2018 earnings at $2.18 EPS and FY2018 earnings at $9.20 EPS.
A number of other research analysts have also commented on the stock. October 4 investment analysts at KeyCorp made no change to the company rating of "Buy" projecting a price of $130.00.
August 3 investment analysts at Jefferies Group LLC kept the stock rating at "Buy" with a current price target of $125.00. Zacks Investment Research lowered shares of Lithia Motors from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 10th. Finally, Berenberg Bank assumed coverage on shares of Lithia Motors in a research report on Wednesday, October 4th. They set a "hold" rating and a $126.00 target price for the company. On August 2 Morgan Stanley held the company rating at "Overweight" targeting a price of $116.00. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock.
Investors may also be looking to gain an edge by following the current technical levels for Lithia Motors (LAD). If you are reading this news story on another publication, it was illegally stolen and reposted in violation of worldwide copyright & trademark laws.
California State Teachers Retirement System cut its holdings in Lithia Motors, Inc.
Shifting gears to the Relative Strength Index, the 14-day RSI is now sitting at 48.19, the 7-day is 46.85, and the 3-day is now at 49.68 for Lithia Motors (LAD). (NYSE:LAD) traded down 0.25% during trading on Friday, reaching $99.27.
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At the time of writing, Lithia Motors (LAD) has a 14-day Commodity Channel Index (CCI) of -12.72. The company has a market cap of $2,842.97, a price-to-earnings ratio of 14.06, a P/E/G ratio of 0.97 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.37 by ($0.19). Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm posted $2.06 EPS. The firm's revenue for the quarter was up 18.7% on a year-over-year basis.
The following firms have recently changed their position in LAD. Oppenheimerfunds, Inc. now holds 56,133 shares worth $6,754,000. Its investment was valued at $28,357,000 an increase of $7,127,000 as of the end of the quarter. Northern Trust Corp increased its stake in Lithia Motors by 2.7% during the second quarter. Victory Capital Management Inc. raised its position in shares of Lithia Motors by 23.7% during the third quarter. Dimensional Fund Advisors LP raised its position in shares of Lithia Motors by 4.6% during the third quarter. Short interest fell 163,563 over that period.
Oppenheimerfunds, Inc. downsized its position by shedding 41,782 shares a decrease of 42.7% as of 09/30/2017.
In other Lithia Motors news, Director Thomas R. Becker sold 1,031 shares of the business's stock in a transaction on Thursday, August 31st. The total value of its holdings increased 28.3%. Institutional investors and hedge funds own 98.47% of the company's stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The stock was sold at an average price of $121.77, for a total transaction of $8,001,628.47. Following the completion of the sale, the director now directly owns 65,704 shares of the company's stock, valued at $7,036,898.40. The disclosure for this sale can be found here. Insiders have sold 145,581 shares of company stock valued at $16,905,722 in the last ninety days.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, November 9th. Lithia Motors (LAD)'s Williams %R presently stands at -36.98. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
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