Lithia Motors Inc (NYSE:LAD) Announces Quarterly Dividend of $0.30

Lithia Motors Inc (NYSE:LAD) announced a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Stockholders of record on Friday, March 13th will be paid a dividend of 0.30 per share on Friday, March 27th. This represents a $1.20 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, March 12th.

Lithia Motors has raised its dividend by an average of 4.2% per year over the last three years and has increased its dividend every year for the last 9 years. Lithia Motors has a payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lithia Motors to earn $13.51 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.9%.

Shares of LAD stock opened at $130.87 on Friday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.14 and a beta of 1.14. Lithia Motors has a one year low of $81.29 and a one year high of $165.26. The company’s fifty day moving average price is $141.09 and its 200-day moving average price is $141.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.18 and a quick ratio of 0.22.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $2.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.97 by ($0.02). The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.22 billion. Lithia Motors had a net margin of 2.13% and a return on equity of 20.95%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 earnings per share. Equities research analysts expect that Lithia Motors will post 11.87 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. ValuEngine downgraded shares of Lithia Motors from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on shares of Lithia Motors from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Guggenheim raised their price objective on shares of Lithia Motors from $147.00 to $171.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Craig Hallum decreased their price objective on shares of Lithia Motors from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Benchmark assumed coverage on shares of Lithia Motors in a research report on Thursday, January 9th. They set a “buy” rating and a $185.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $150.67.

About Lithia Motors

Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.

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Dividend History for Lithia Motors (NYSE:LAD)

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