Linamar Co. (TSE:LNR) to Issue Quarterly Dividend of $0.12
Linamar Co. (TSE:LNR) declared a quarterly dividend on Thursday, August 3rd, Zacks reports. Investors of record on Friday, August 25th will be paid a dividend of 0.12 per share on Tuesday, September 12th. This represents a $0.48 annualized dividend and a yield of 0.72%. The ex-dividend date is Wednesday, August 23rd. This is a positive change from Linamar’s previous quarterly dividend of $0.10.
Shares of Linamar (LNR) traded up 2.74% on Friday, reaching $68.93. The company had a trading volume of 169,487 shares. The firm has a market cap of $4.50 billion and a P/E ratio of 8.34. The company has a 50-day moving average price of $65.70 and a 200-day moving average price of $61.21. Linamar has a one year low of $47.00 and a one year high of $68.98.
Linamar (TSE:LNR) last released its earnings results on Wednesday, August 2nd. The company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.10. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Linamar had a return on equity of 21.77% and a net margin of 8.76%. On average, analysts expect that Linamar will post $8.22 earnings per share for the current fiscal year.
In related news, Director William Harrison sold 5,000 shares of Linamar stock in a transaction on Monday, June 26th. The stock was sold at an average price of C$63.75, for a total transaction of C$318,750.00. Also, insider Jose Manuel Chaves bought 2,000 shares of Linamar stock in a transaction on Friday, July 7th. The shares were acquired at an average price of C$63.16 per share, for a total transaction of C$126,320.00.
Several equities research analysts have recently commented on the company. BMO Capital Markets set a C$70.00 target price on Linamar and gave the company a “market perform” rating in a research note on Thursday. Royal Bank Of Canada lifted their target price on Linamar from C$71.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Thursday. TD Securities lowered their target price on Linamar from C$73.00 to C$72.00 and set a “hold” rating for the company in a research note on Thursday. CIBC lifted their price objective on Linamar from C$65.00 to C$69.00 in a research note on Friday, May 12th. Finally, Scotiabank lifted their price objective on Linamar from C$80.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Thursday, May 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$74.00.
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Linamar Company Profile
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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