Linamar Co. Expected to Post FY2019 Earnings of $9.25 Per Share (LNR)
Linamar Co. (TSE:LNR) – Research analysts at Gabelli dropped their FY2019 EPS estimates for shares of Linamar in a research report issued on Thursday. Gabelli analyst M. Paige now expects that the company will earn $9.25 per share for the year, down from their previous forecast of $9.35. Gabelli also issued estimates for Linamar’s FY2020 earnings at $9.90 EPS.
Linamar (TSE:LNR) last posted its earnings results on Wednesday, August 2nd. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.10. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. Linamar had a net margin of 8.76% and a return on equity of 21.77%.
LNR has been the subject of several other reports. TD Securities decreased their price target on Linamar from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Thursday. Royal Bank Of Canada increased their price target on Linamar from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Thursday, May 11th. CIBC increased their price target on Linamar from C$65.00 to C$69.00 in a report on Friday, May 12th. Scotiabank increased their price target on Linamar from C$80.00 to C$85.00 and gave the stock an “outperform” rating in a report on Thursday, May 11th. Finally, BMO Capital Markets set a C$70.00 price target on Linamar and gave the stock a “market perform” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of C$74.00.
Linamar (TSE LNR) traded up 2.31% during trading on Friday, hitting $68.64. 234,859 shares of the stock traded hands. Linamar has a 12 month low of $47.00 and a 12 month high of $68.98. The stock has a market cap of $4.48 billion and a P/E ratio of 8.31. The firm’s 50-day moving average is $65.70 and its 200-day moving average is $61.21.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This is an increase from Linamar’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.70%.
In other Linamar news, insider Jose Manuel Chaves acquired 2,000 shares of the business’s stock in a transaction on Friday, July 7th. The stock was purchased at an average price of C$63.16 per share, for a total transaction of C$126,320.00. Also, insider Kenneth Mcdougall sold 4,000 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of C$62.10, for a total value of C$248,400.00.
Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, 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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