Brokers Issue Forecasts for Linamar Co.’s FY2017 Earnings (TSE:LNR)
Linamar Co. (TSE:LNR) – Analysts at Cormark increased their FY2017 EPS estimates for Linamar in a note issued to investors on Thursday. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $8.58 for the year, up from their prior estimate of $8.25. Cormark also issued estimates for Linamar’s Q4 2017 earnings at $1.89 EPS and Q3 2018 earnings at $2.15 EPS.
Several other research analysts have also recently weighed in on the stock. Scotiabank upped their price target on shares of Linamar from C$80.00 to C$85.00 and gave the stock an “outperform” rating in a report on Thursday, May 11th. Royal Bank Of Canada upped their price target on shares of Linamar from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Thursday, May 11th. TD Securities upped their price target on shares of Linamar from C$68.00 to C$73.00 and gave the stock a “hold” rating in a report on Thursday, May 11th. CIBC upped their price target on shares of Linamar from C$65.00 to C$69.00 in a report on Friday, May 12th. Finally, BMO Capital Markets set a C$70.00 price target on shares of Linamar and gave the stock a “market perform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of C$74.00.
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Linamar (TSE:LNR) opened at 68.64 on Monday. The company has a market cap of $4.48 billion and a price-to-earnings ratio of 8.31. Linamar has a 52 week low of $47.00 and a 52 week high of $68.98. The stock has a 50 day moving average price of $65.70 and a 200 day moving average price of $61.21.
Linamar (TSE:LNR) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.10. Linamar had a return on equity of 21.77% and a net margin of 8.76%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion.
In related news, 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. Also, insider Jose Manuel Chaves bought 2,000 shares of Linamar stock in a transaction that occurred on Friday, July 7th. The stock was purchased at an average cost of C$63.16 per share, for a total transaction of C$126,320.00.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. This is a boost from Linamar’s previous quarterly dividend of $0.10.
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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