Lithia Motors, Inc. (NYSE:LAD) Plans $0.53 Quarterly Dividend

Lithia Motors, Inc. (NYSE:LAD) declared a quarterly dividend on Monday, February 10th, Wall Street Journal reports. Stockholders of record on Friday, March 7th will be paid a dividend of 0.53 per share on Friday, March 21st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, March 7th.

Lithia Motors has raised its dividend payment by an average of 15.4% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Lithia Motors has a payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lithia Motors to earn $40.30 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 5.3%.

Lithia Motors Price Performance

Shares of Lithia Motors stock traded down $4.21 on Wednesday, hitting $313.89. The company’s stock had a trading volume of 22,963 shares, compared to its average volume of 376,387. The company has a market capitalization of $8.25 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 4.65 and a beta of 1.67. Lithia Motors has a 52-week low of $243.00 and a 52-week high of $405.67. The firm has a fifty day moving average price of $358.44 and a 200-day moving average price of $341.38. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. On average, equities research analysts expect that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Insider Transactions at Lithia Motors

In other Lithia Motors news, COO Adam Chamberlain sold 403 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $384.28, for a total transaction of $154,864.84. Following the completion of the sale, the chief operating officer now owns 2,605 shares in the company, valued at $1,001,049.40. The trade was a 13.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary M. Glandon sold 325 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total transaction of $126,054.50. Following the sale, the insider now directly owns 1,665 shares in the company, valued at $645,786.90. This trade represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

LAD has been the topic of a number of analyst reports. Evercore ISI raised their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on Lithia Motors from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Guggenheim boosted their target price on shares of Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company increased their price target on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $371.36.

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.