Brokers Set Expectations for Linamar Co.’s FY2017 Earnings (TSE:LNR)
Linamar Co. (TSE:LNR) – Analysts at Gabelli reduced their FY2017 EPS estimates for shares of Linamar in a research report issued to clients and investors on Thursday. Gabelli analyst M. Paige now forecasts that the company will post earnings of $8.25 per share for the year, down from their previous forecast of $8.30. Gabelli also issued estimates for Linamar’s FY2018 earnings at $8.80 EPS and FY2021 earnings at $10.70 EPS.
LNR has been the subject of a number of other reports. Scotiabank boosted their target price on Linamar from C$80.00 to C$85.00 and gave the company an “outperform” rating in a research report on Thursday, May 11th. Royal Bank Of Canada boosted their target price on Linamar from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a research report on Thursday, May 11th. TD Securities boosted their target price on Linamar from C$68.00 to C$73.00 and gave the company a “hold” rating in a research report on Thursday, May 11th. BMO Capital Markets set a C$70.00 target price on Linamar and gave the company a “market perform” rating in a research report on Thursday. Finally, CIBC boosted their price objective on Linamar from C$65.00 to C$69.00 in a report on Friday, May 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of C$74.00.
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Linamar (TSE:LNR) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.10. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Linamar had a return on equity of 21.77% and a net margin of 8.76%.
In related news, insider Jose Manuel Chaves acquired 2,000 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was purchased at an average cost 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 business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of C$63.75, for a total value of C$318,750.00.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.12 per share. This is a positive change from Linamar’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, August 23rd.
Linamar Company Profile
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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