Lennox International Inc. (LII) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Lennox International Inc. (NYSE:LII) posted its quarterly earnings results on Monday. The company reported $2.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.09. Lennox International had a net margin of 6.45% and a return on equity of 692.11%. The business earned $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $1.82 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Lennox International updated its FY16 guidance to $6.75-6.95 EPS.
Lennox International (NYSE:LII) opened at 157.62 on Monday. Lennox International has a 1-year low of $105.65 and a 1-year high of $164.02. The company’s 50-day moving average is $158.88 and its 200 day moving average is $147.17. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 31.19 and a beta of 1.26.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.09%. The ex-dividend date was Wednesday, September 28th. Lennox International’s payout ratio is 33.86%.
LII has been the subject of several research reports. Susquehanna lowered shares of Lennox International from a “positive” rating to a “neutral” rating and decreased their price target for the company from $172.00 to $163.00 in a report on Monday, August 15th. KeyCorp reaffirmed a “hold” rating on shares of Lennox International in a report on Monday, October 10th. Zacks Investment Research lowered shares of Lennox International from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Lennox International in a report on Wednesday, August 31st. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Lennox International in a research note on Saturday, July 9th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $143.45.
In related news, CFO Joseph William Reitmeier sold 10,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $150.93, for a total value of $1,614,951.00. Following the sale, the chief financial officer now directly owns 14,826 shares in the company, valued at $2,237,688.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David W. Moon sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $151.16, for a total value of $680,220.00. Following the completion of the sale, the executive vice president now owns 106,368 shares in the company, valued at $16,078,586.88. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in LII. Teachers Advisors Inc. boosted its stake in shares of Lennox International by 0.9% in the second quarter. Teachers Advisors Inc. now owns 266,392 shares of the company’s stock valued at $37,987,000 after buying an additional 2,349 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Lennox International by 28.1% in the second quarter. TIAA CREF Investment Management LLC now owns 244,921 shares of the company’s stock worth $34,926,000 after buying an additional 53,689 shares during the last quarter. Janus Capital Management LLC boosted its position in Lennox International by 5.4% in the second quarter. Janus Capital Management LLC now owns 140,300 shares of the company’s stock worth $20,007,000 after buying an additional 7,200 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Lennox International by 116.4% in the second quarter. Parametric Portfolio Associates LLC now owns 132,150 shares of the company’s stock worth $18,845,000 after buying an additional 71,069 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Lennox International by 209.0% in the second quarter. Canada Pension Plan Investment Board now owns 58,400 shares of the company’s stock worth $8,328,000 after buying an additional 39,500 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.
About Lennox International
Lennox International Inc (LII) is a global 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. The Company operates in three segments: Residential Heating & Cooling; Commercial Heating & Cooling, and Refrigeration.
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