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.
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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