Lennox International Inc. (NYSE:LII) – Stock analysts at Seaport Global Securities upped their Q2 2018 earnings per share estimates for Lennox International in a research note issued on Wednesday. Seaport Global Securities analyst W. Liptak now expects that the construction company will post earnings of $3.49 per share for the quarter, up from their prior estimate of $3.12. Seaport Global Securities also issued estimates for Lennox International’s Q3 2018 earnings at $3.32 EPS, Q4 2018 earnings at $2.47 EPS, FY2018 earnings at $10.33 EPS, Q2 2019 earnings at $3.82 EPS, Q3 2019 earnings at $3.68 EPS, Q4 2019 earnings at $2.65 EPS and FY2019 earnings at $11.00 EPS.
Several other equities research analysts have also recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Lennox International from $232.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group reiterated a “neutral” rating and issued a $215.00 target price (down previously from $230.00) on shares of Lennox International in a research note on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $198.00 target price on shares of Lennox International in a research note on Friday, January 19th. Wells Fargo & Co reiterated a “market perform” rating and issued a $210.00 target price (up previously from $193.00) on shares of Lennox International in a research note on Thursday, December 14th. They noted that the move was a valuation call. Finally, Cowen reiterated a “buy” rating and issued a $210.00 target price on shares of Lennox International in a research note on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Lennox International has a consensus rating of “Hold” and an average target price of $201.43.
Lennox International (NYSE:LII) last released its quarterly earnings results on Tuesday, February 6th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.03. Lennox International had a net margin of 7.96% and a return on equity of 1,465.51%. The company had revenue of $891.80 million during the quarter, compared to analysts’ expectations of $906.85 million. During the same period in the prior year, the company earned $1.50 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year.
Lennox International declared that its board has initiated a stock buyback program on Wednesday, December 13th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, December 28th. Lennox International’s payout ratio is presently 28.53%.
In related news, Chairman Todd M. Bluedorn sold 12,901 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $210.95, for a total value of $2,721,465.95. Following the completion of the transaction, the chairman now owns 183,360 shares of the company’s stock, valued at $38,679,792. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary S. Bedard sold 369 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $204.47, for a total transaction of $75,449.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,484 shares of company stock valued at $5,662,461. 3.90% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of LII. State Street Corp raised its position in Lennox International by 10.2% in the second quarter. State Street Corp now owns 1,383,849 shares of the construction company’s stock worth $254,122,000 after purchasing an additional 128,170 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in Lennox International in the second quarter worth about $239,000. Canada Pension Plan Investment Board acquired a new position in Lennox International in the third quarter worth about $3,830,000. Tocqueville Asset Management L.P. raised its position in Lennox International by 60.0% in the third quarter. Tocqueville Asset Management L.P. now owns 4,000 shares of the construction company’s stock worth $716,000 after purchasing an additional 1,500 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Lennox International by 49.3% in the third quarter. New York State Common Retirement Fund now owns 133,200 shares of the construction company’s stock worth $23,839,000 after purchasing an additional 44,000 shares in the last quarter. 68.96% of the stock is owned by hedge funds and other institutional investors.
About Lennox International
Lennox International Inc is a 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. It operates through three segments: Residential Heating & Cooling; Commercial Heating & Cooling, and Refrigeration.
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