Lennox International Inc. (LII) to Post Q1 2019 Earnings of $1.38 Per Share, KeyCorp Forecasts
Lennox International Inc. (NYSE:LII) – Equities research analysts at KeyCorp issued their Q1 2019 earnings estimates for Lennox International in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Hammond expects that the construction company will earn $1.38 per share for the quarter. KeyCorp also issued estimates for Lennox International’s Q2 2019 earnings at $3.97 EPS, Q3 2019 earnings at $3.73 EPS and Q4 2019 earnings at $2.42 EPS.
Several other brokerages also recently commented on LII. Morgan Stanley increased their price objective on shares of Lennox International from $166.00 to $169.00 and gave the company an “underweight” rating in a research report on Tuesday, October 24th. Stifel Nicolaus increased their price objective on shares of Lennox International from $187.00 to $192.00 and gave the company a “hold” rating in a research report on Tuesday, October 24th. Robert W. Baird reissued a “buy” rating on shares of Lennox International in a research report on Tuesday, October 24th. Credit Suisse Group reissued a “neutral” rating and set a $180.00 price objective (up from $171.00) on shares of Lennox International in a research report on Tuesday, October 24th. Finally, Wells Fargo & Co reissued a “market perform” rating and set a $210.00 price objective (up from $193.00) on shares of Lennox International in a research report on Thursday, December 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given 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 price target of $201.43.
Lennox International (NYSE:LII) last announced its quarterly earnings data on Tuesday, February 6th. The construction company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $906.85 million. During the same period in the prior year, the firm posted $1.50 EPS. Lennox International’s revenue for the quarter was down .6% on a year-over-year basis.
Institutional investors and hedge funds have recently bought and sold shares of the business. Impax Asset Management AIFM Ltd bought a new position in Lennox International during the 3rd quarter valued at about $4,478,000. Hilton Capital Management LLC lifted its stake in Lennox International by 5.8% during the 3rd quarter. Hilton Capital Management LLC now owns 62,063 shares of the construction company’s stock valued at $11,107,000 after acquiring an additional 3,380 shares during the period. Bank of New York Mellon Corp lifted its stake in Lennox International by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 697,173 shares of the construction company’s stock valued at $124,773,000 after acquiring an additional 3,546 shares during the period. Rhumbline Advisers lifted its stake in Lennox International by 11.7% during the 3rd quarter. Rhumbline Advisers now owns 89,196 shares of the construction company’s stock valued at $15,963,000 after acquiring an additional 9,330 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its stake in Lennox International by 60.0% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 4,000 shares of the construction company’s stock valued at $716,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 68.56% of the company’s stock.
In other Lennox International news, Chairman Todd M. Bluedorn sold 12,901 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $210.95, for a total transaction of $2,721,465.95. Following the transaction, the chairman now owns 183,360 shares in the company, valued at approximately $38,679,792. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Prakash Bedapudi sold 3,201 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $196.25, for a total transaction of $628,196.25. The disclosure for this sale can be found here. Insiders have sold a total of 27,484 shares of company stock worth $5,662,461 in the last 90 days. Company insiders own 3.60% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, December 28th. Lennox International’s dividend payout ratio is currently 28.53%.
Lennox International declared that its board has initiated a stock buyback plan on Wednesday, December 13th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
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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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