Gabelli Brokers Lift Earnings Estimates for Linamar Co. (LNR)
Linamar Co. (TSE:LNR) – Equities researchers at Gabelli increased their FY2018 EPS estimates for Linamar in a report issued on Monday. Gabelli analyst M. Paige now expects that the company will post earnings of $10.20 per share for the year, up from their prior estimate of $8.50. Gabelli also issued estimates for Linamar’s FY2019 earnings at $10.35 EPS, FY2020 earnings at $11.10 EPS and FY2021 earnings at $11.95 EPS.
Several other equities research analysts also recently issued reports on LNR. CIBC increased their price objective on Linamar from C$69.00 to C$81.00 in a research note on Thursday, September 28th. BMO Capital Markets increased their price objective on Linamar from C$70.00 to C$80.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. Royal Bank of Canada increased their price objective on Linamar from C$79.00 to C$80.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 8th. TD Securities reduced their price objective on Linamar from C$84.00 to C$82.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. Finally, Scotiabank increased their price objective on Linamar from C$85.00 to C$90.00 and gave the stock an “outperform” rating in a research note on Friday, December 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Linamar has a consensus rating of “Hold” and an average price target of C$82.60.
Shares of Linamar (LNR) traded up C$1.51 during trading on Wednesday, reaching C$76.02. The company had a trading volume of 297,083 shares, compared to its average volume of 184,103. Linamar has a 1 year low of C$54.36 and a 1 year high of C$80.58.
In other Linamar news, insider Csaba Havasi sold 2,250 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of C$66.27, for a total value of C$149,107.50. Also, insider Kenneth Mcdougall sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of C$78.74, for a total value of C$196,850.00. Over the last ninety days, insiders sold 8,750 shares of company stock worth $612,238.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were given a $0.121 dividend. This is a positive change from Linamar’s previous quarterly dividend of $0.12. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date was Wednesday, November 22nd. Linamar’s dividend payout ratio is presently 5.87%.
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Linamar Corporation is a Canada-based diversified manufacturing company of engineered products powering vehicles, motion, work and lives. The Company operates through two segments: the Powertrain/Driveline and the Industrial. The segments are divided into four operating groups: Machining & Assembly, Light Metal Casting, Forging and Skyjack.
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