Lennox International (NYSE:LII) Issues Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Lennox International (NYSE:LII) announced its earnings results on Wednesday. The construction company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.17 by $0.30, reports. Lennox International had a return on equity of 303.36% and a net margin of 12.38%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. Lennox International updated its FY 2024 guidance to 19.000-20.000 EPS and its FY24 guidance to $19.00-20.00 EPS.

Lennox International Price Performance

Shares of Lennox International stock traded up $1.61 on Friday, hitting $477.11. The company’s stock had a trading volume of 272,027 shares, compared to its average volume of 272,637. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.72 and a current ratio of 1.43. Lennox International has a 1 year low of $264.88 and a 1 year high of $501.72. The firm has a fifty day moving average price of $472.39 and a 200-day moving average price of $435.55. The company has a market capitalization of $16.99 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.02.

Lennox International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $1.10 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 annualized dividend and a dividend yield of 0.92%. Lennox International’s dividend payout ratio is presently 25.49%.

Wall Street Analysts Forecast Growth

LII has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Lennox International from $350.00 to $360.00 and gave the stock an “underweight” rating in a research note on Thursday. UBS Group lifted their price target on Lennox International from $450.00 to $485.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company lowered their price target on Lennox International from $545.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays lifted their price target on Lennox International from $450.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Mizuho lifted their price target on Lennox International from $490.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $482.31.

Insider Activity at Lennox International

In related news, EVP Joseph William Reitmeier sold 1,930 shares of Lennox International stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $471.48, for a total value of $909,956.40. Following the completion of the transaction, the executive vice president now owns 24,533 shares in the company, valued at approximately $11,566,818.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lennox International news, EVP Gary S. Bedard sold 1,849 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $473.59, for a total transaction of $875,667.91. Following the completion of the sale, the executive vice president now directly owns 20,465 shares in the company, valued at approximately $9,692,019.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Joseph William Reitmeier sold 1,930 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $471.48, for a total value of $909,956.40. Following the sale, the executive vice president now owns 24,533 shares of the company’s stock, valued at $11,566,818.84. The disclosure for this sale can be found here. 10.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lennox International

Several large investors have recently bought and sold shares of LII. iA Global Asset Management Inc. purchased a new stake in Lennox International during the 3rd quarter worth approximately $8,067,000. Eagle Asset Management Inc. purchased a new stake in shares of Lennox International in the fourth quarter valued at approximately $5,795,000. DNB Asset Management AS purchased a new stake in shares of Lennox International in the fourth quarter valued at approximately $5,393,000. Russell Investments Group Ltd. increased its holdings in shares of Lennox International by 33.6% in the fourth quarter. Russell Investments Group Ltd. now owns 44,049 shares of the construction company’s stock valued at $19,711,000 after purchasing an additional 11,077 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Lennox International by 87.6% during the fourth quarter. BNP Paribas Financial Markets now owns 18,075 shares of the construction company’s stock worth $8,089,000 after buying an additional 8,441 shares in the last quarter. 67.07% of the stock is currently owned by hedge funds and other institutional investors.

About Lennox International

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.