William Blair Comments on Lennox International Inc.’s FY2016 Earnings (LII)
Lennox International Inc. (NYSE:LII) – William Blair lifted their FY2016 earnings estimates for shares of Lennox International in a research note issued on Monday. William Blair analyst R. Merkel now anticipates that the firm will post earnings of $6.90 per share for the year, up from their prior forecast of $6.88. William Blair also issued estimates for Lennox International’s Q4 2016 earnings at $1.44 EPS, Q1 2017 earnings at $0.73 EPS, Q2 2017 earnings at $2.69 EPS, Q3 2017 earnings at $2.63 EPS and Q4 2017 earnings at $1.75 EPS.
Lennox International (NYSE:LII) last announced its quarterly earnings results on Monday, October 17th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.09. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Lennox International had a net margin of 6.94% and a return on equity of 1,460.80%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share.
LII has been the subject of several other research reports. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Lennox International in a research note on Wednesday, August 31st. KeyCorp reaffirmed a “hold” rating on shares of Lennox International in a research note on Monday, October 10th. Susquehanna lowered shares of Lennox International from a “positive” rating to a “neutral” rating and dropped their target price for the company from $172.00 to $163.00 in a research report on Monday, August 15th. Zacks Investment Research lowered shares of Lennox International from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. Finally, Morgan Stanley reiterated a “hold” rating and set a $159.00 target price on shares of Lennox International in a research report on Wednesday, July 20th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $145.00.
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Shares of Lennox International (NYSE:LII) traded down 1.29% during trading on Wednesday, hitting $149.75. 349,643 shares of the stock were exchanged. The firm’s 50 day moving average price is $158.50 and its 200-day moving average price is $147.59. Lennox International has a 52 week low of $105.65 and a 52 week high of $164.02. The stock has a market cap of $6.51 billion, a P/E ratio of 29.64 and a beta of 1.26.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.72 dividend on an annualized basis and a yield of 1.13%. Lennox International’s dividend payout ratio is currently 30.44%.
In related news, Director John W. Norris III sold 1,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $161.73, for a total transaction of $161,730.00. Following the completion of the sale, the director now directly owns 266,339 shares in the company, valued at approximately $43,075,006.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Todd M. Bluedorn sold 29,552 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $153.53, for a total transaction of $4,537,118.56. Following the sale, the chairman now owns 236,733 shares of the company’s stock, valued at $36,345,617.49. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of large investors have recently bought and sold shares of LII. Charter Trust Co. increased its position in shares of Lennox International by 16.0% in the third quarter. Charter Trust Co. now owns 2,023 shares of the company’s stock worth $318,000 after buying an additional 279 shares during the last quarter. Genesee Valley Trust Co. bought a new position in shares of Lennox International during the third quarter worth about $291,000. Oregon Public Employees Retirement Fund increased its position in shares of Lennox International by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,646 shares of the company’s stock worth $2,143,000 after buying an additional 267 shares during the last quarter. Dorsey Wright & Associates increased its position in shares of Lennox International by 8.7% in the third quarter. Dorsey Wright & Associates now owns 18,142 shares of the company’s stock worth $2,849,000 after buying an additional 1,456 shares during the last quarter. Finally, Copper Rock Capital Partners LLC increased its position in shares of Lennox International by 14.7% in the third quarter. Copper Rock Capital Partners LLC now owns 3,012 shares of the company’s stock worth $470,000 after buying an additional 387 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.
About Lennox International
Lennox International Inc (LII) is a global provider of climate control solutions. The Company designs, manufactures and markets a range of products for the heating, ventilation, air conditioning and refrigeration (HVACR) markets. The Company operates in three segments: Residential Heating & Cooling; Commercial Heating & Cooling, and Refrigeration.
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