Lennox International (NYSE:LII) Posts Quarterly Earnings Results, Beats Expectations By $0.77 EPS

Lennox International (NYSE:LII) announced its quarterly earnings data on Wednesday. The construction company reported $6.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.91 by $0.77, Briefing.com reports. Lennox International had a return on equity of 198.36% and a net margin of 12.85%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the business posted $5.37 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Lennox International updated its FY 2024 guidance to 20.750-21.000 EPS and its FY24 guidance to $20.75-$21.00 EPS.

Lennox International Price Performance

NYSE:LII traded up $10.92 during trading hours on Thursday, reaching $620.66. 393,434 shares of the company’s stock were exchanged, compared to its average volume of 274,277. The company has a quick ratio of 0.90, a current ratio of 1.60 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $22.11 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 1.89 and a beta of 1.07. Lennox International has a 12 month low of $334.53 and a 12 month high of $627.46. The business’s 50-day simple moving average is $590.77 and its two-hundred day simple moving average is $542.21.

Lennox International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 0.74%. The ex-dividend date was Monday, September 30th. Lennox International’s dividend payout ratio is presently 26.65%.

Insider Buying and Selling at Lennox International

In related news, EVP Prakash Bedapudi sold 5,374 shares of Lennox International stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $584.00, for a total value of $3,138,416.00. Following the transaction, the executive vice president now directly owns 16,162 shares in the company, valued at $9,438,608. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Prakash Bedapudi sold 5,374 shares of Lennox International stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $584.00, for a total value of $3,138,416.00. Following the transaction, the executive vice president now owns 16,162 shares of the company’s stock, valued at approximately $9,438,608. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Chris Kosel sold 1,744 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $573.79, for a total transaction of $1,000,689.76. Following the sale, the chief accounting officer now directly owns 1,646 shares of the company’s stock, valued at $944,458.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,052 shares of company stock valued at $7,563,793. Corporate insiders own 10.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LII. KeyCorp downgraded shares of Lennox International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their target price on Lennox International from $570.00 to $615.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. The Goldman Sachs Group upped their target price on Lennox International from $507.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Lennox International from $604.00 to $619.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Mizuho increased their target price on Lennox International from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $583.92.

Lennox International Company Profile

Lennox International Inc, together with its subsidiaries, designs, manufactures, and markets a range of products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. The Home Comfort Solutions segment provides furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, and replacement parts and supplies; residential heating, ventilation, cooling equipment, and air conditioning; and evaporator coils and unit heaters under Lennox, Dave Lennox Signature Collection, Armstrong Air, Ducane, AirEase, Concord, MagicPak, Advanced Distributor Products, Allied, Elite Series, Merit Series, Comfort Sync, Healthy Climate, iComfort, ComfortSense, and Lennox Stores name.