Lennox International (NYSE:LII) Posts Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Lennox International (NYSE:LII) issued its quarterly earnings results on Wednesday. The construction company reported $6.83 earnings per share for the quarter, topping the consensus estimate of $6.55 by $0.28, Briefing.com reports. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Lennox International had a return on equity of 303.36% and a net margin of 12.38%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $6.15 earnings per share. Lennox International updated its FY 2024 guidance to 19.500-20.250 EPS and its FY24 guidance to $19.50-20.25 EPS.

Lennox International Price Performance

Shares of NYSE LII traded up $4.58 during midday trading on Thursday, reaching $545.73. The stock had a trading volume of 350,117 shares, compared to its average volume of 290,671. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.68 and a current ratio of 1.43. Lennox International has a 12-month low of $331.60 and a 12-month high of $583.42. The stock has a 50-day moving average of $528.56 and a 200-day moving average of $485.47. The company has a market capitalization of $19.44 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.56 and a beta of 1.07.

Lennox International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $1.15 dividend. This is a positive change from Lennox International’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, June 28th. Lennox International’s dividend payout ratio is presently 26.65%.

Analyst Upgrades and Downgrades

LII has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on shares of Lennox International from $350.00 to $360.00 and gave the stock an “underweight” rating in a research note on Thursday, April 25th. Royal Bank of Canada lifted their target price on shares of Lennox International from $566.00 to $572.00 and gave the company a “sector perform” rating in a report on Thursday. Barclays raised their price objective on Lennox International from $500.00 to $517.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Wells Fargo & Company downgraded Lennox International from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $550.00 to $570.00 in a report on Wednesday, July 10th. Finally, Robert W. Baird lifted their price target on Lennox International from $505.00 to $610.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $541.08.

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.