Brokers Issue Forecasts for Linamar Co.’s FY2017 Earnings (LNR)
Linamar Co. (TSE:LNR) – Analysts at Cormark lifted their FY2017 earnings per share estimates for Linamar in a report issued on Thursday. Cormark analyst D. Tyerman now forecasts that the company will earn $8.58 per share for the year, up from their previous forecast of $8.25. Cormark also issued estimates for Linamar’s Q4 2017 earnings at $1.89 EPS and Q3 2018 earnings at $2.15 EPS.
Linamar (TSE:LNR) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.10. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Linamar had a net margin of 8.76% and a return on equity of 21.77%.
A number of other research firms also recently issued reports on LNR. Royal Bank Of Canada increased their target price on shares of Linamar from C$71.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Thursday. BMO Capital Markets set a C$70.00 target price on shares of Linamar and gave the stock a “market perform” rating in a research report on Thursday. TD Securities increased their target price on shares of Linamar from C$68.00 to C$73.00 and gave the stock a “hold” rating in a research report on Thursday, May 11th. Scotiabank increased their target price on shares of Linamar from C$80.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, May 11th. Finally, CIBC increased their target price on shares of Linamar from C$65.00 to C$69.00 in a research report on Friday, May 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$74.00.
Linamar (TSE:LNR) opened at 68.64 on Monday. Linamar has a one year low of $47.00 and a one year high of $68.98. The company has a 50 day moving average of $65.70 and a 200-day moving average of $61.21. The firm has a market cap of $4.48 billion and a PE ratio of 8.31.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, August 23rd. This is an increase from Linamar’s previous quarterly dividend of $0.10.
In other news, insider Jose Manuel Chaves acquired 2,000 shares of the stock in a transaction on Friday, July 7th. The stock was bought at an average price of C$63.16 per share, with a total value of C$126,320.00. Also, Director William Harrison sold 5,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of C$63.75, for a total transaction of C$318,750.00.
Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, United States, the Asia Pacific, Mexico, and Europe. It operates through two segments, Powertrain/Driveline and Industrial. The company offers hybrid power units, power transfer units, rear drive units/modules, and engineered gears; and shaft and shell assemblies, differential assemblies, transmission gears, clutch modules, center housings, transmission/driveline shafts, transfer case pump housings, and other transmission components.
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