William Blair Comments on Lennox International Inc.’s Q2 2024 Earnings (NYSE:LII)

Lennox International Inc. (NYSE:LII) – Equities research analysts at William Blair lowered their Q2 2024 earnings estimates for Lennox International in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst R. Merkel now expects that the construction company will earn $6.50 per share for the quarter, down from their prior forecast of $6.51. The consensus estimate for Lennox International’s current full-year earnings is $19.66 per share. William Blair also issued estimates for Lennox International’s Q3 2024 earnings at $6.02 EPS and Q4 2024 earnings at $4.26 EPS.

Lennox International (NYSE:LII) last released its earnings results on Wednesday, April 24th. The construction company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.17 by $0.30. 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 analyst estimates of $1.05 billion.

A number of other equities research analysts also recently weighed in on LII. UBS Group lifted their target price on Lennox International from $450.00 to $485.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on Lennox International from $481.00 to $510.00 and gave the company a “sector perform” rating in a research report on Thursday. Wells Fargo & Company decreased their price target on shares of Lennox International from $545.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday. TD Cowen increased their price objective on shares of Lennox International from $450.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, Mizuho lifted their target price on shares of Lennox International from $490.00 to $540.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Lennox International has an average rating of “Moderate Buy” and a consensus price target of $482.31.

Lennox International Trading Up 1.7 %

Shares of LII stock opened at $475.64 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 3.13. Lennox International has a 1 year low of $256.74 and a 1 year high of $501.72. The firm’s fifty day simple moving average is $471.81 and its 200 day simple moving average is $434.88. The firm has a market capitalization of $16.94 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System lifted its holdings in shares of Lennox International by 2.7% during the 1st quarter. New York State Teachers Retirement System now owns 36,712 shares of the construction company’s stock valued at $17,943,000 after purchasing an additional 950 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Lennox International by 9.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 73,135 shares of the construction company’s stock worth $35,745,000 after buying an additional 6,041 shares during the period. New England Research & Management Inc. bought a new position in Lennox International in the first quarter valued at approximately $489,000. Rise Advisors LLC bought a new stake in shares of Lennox International during the first quarter worth $41,000. Finally, Symmetry Partners LLC lifted its position in Lennox International by 4.6% in the 1st quarter. Symmetry Partners LLC now owns 2,137 shares of the construction company’s stock valued at $1,044,000 after acquiring an additional 94 shares in the last quarter. 67.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lennox International

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

Lennox International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 0.93%. Lennox International’s dividend payout ratio (DPR) is currently 25.49%.

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.