Gabelli Weighs in on Linamar Co.’s FY2018 Earnings (LNR)
Linamar Co. (TSE:LNR) – Gabelli lowered their FY2018 EPS estimates for Linamar in a research report issued on Thursday, November 8th. Gabelli analyst M. Paige now anticipates that the company will earn $9.40 per share for the year, down from their previous forecast of $9.95. Gabelli also issued estimates for Linamar’s FY2019 earnings at $10.50 EPS, FY2020 earnings at $11.05 EPS, FY2021 earnings at $11.85 EPS and FY2022 earnings at $12.55 EPS.
A number of other research analysts have also recently issued reports on the stock. TD Securities cut shares of Linamar from a “buy” rating to a “hold” rating and lowered their price target for the company from C$65.00 to C$64.00 in a research report on Thursday. CIBC raised shares of Linamar from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$70.00 to C$82.00 in a research report on Thursday, September 13th. BMO Capital Markets lowered their price target on shares of Linamar from C$77.00 to C$70.00 and set a “market perform” rating for the company in a research report on Wednesday, August 8th. Finally, Royal Bank of Canada lowered their price target on shares of Linamar from C$86.00 to C$83.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of C$79.60.
In other Linamar news, Director Mark Stoddart sold 5,500 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of C$54.28, for a total transaction of C$298,540.00. Also, insider Salvatore Cocca sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of C$46.70, for a total transaction of C$140,100.00. Over the last three months, insiders have sold 13,700 shares of company stock valued at $740,708.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. Linamar’s dividend payout ratio (DPR) is currently 5.32%.
Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, the 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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