LCI Industries (NYSE:LCII – Get Rating) – Equities researchers at Jefferies Financial Group cut their Q3 2022 EPS estimates for shares of LCI Industries in a research note issued to investors on Tuesday, August 2nd. Jefferies Financial Group analyst B. Jordan now forecasts that the company will earn $3.43 per share for the quarter, down from their prior forecast of $3.75. The consensus estimate for LCI Industries’ current full-year earnings is $18.61 per share. Jefferies Financial Group also issued estimates for LCI Industries’ Q4 2022 earnings at $2.89 EPS, Q3 2023 earnings at $3.43 EPS and Q4 2023 earnings at $3.31 EPS.
Several other research analysts have also recently commented on the stock. Robert W. Baird decreased their target price on shares of LCI Industries from $175.00 to $155.00 in a research report on Wednesday, May 11th. Truist Financial reduced their price target on shares of LCI Industries to $135.00 in a research note on Thursday, May 26th. StockNews.com lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson lowered shares of LCI Industries from a “buy” rating to a “neutral” rating and set a $131.00 price target for the company. in a research note on Monday, August 1st. They noted that the move was a valuation call. Finally, MKM Partners initiated coverage on shares of LCI Industries in a research note on Thursday, May 5th. They issued a “buy” rating and a $153.00 price target for the company.
LCI Industries Price Performance
LCI Industries (NYSE:LCII – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $7.71 EPS for the quarter, topping the consensus estimate of $4.48 by $3.23. LCI Industries had a net margin of 8.93% and a return on equity of 41.58%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. LCI Industries’s quarterly revenue was up 64.4% on a year-over-year basis.
LCI Industries Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were paid a dividend of $1.05 per share. The ex-dividend date was Thursday, June 2nd. This is a positive change from LCI Industries’s previous quarterly dividend of $0.90. This represents a $4.20 annualized dividend and a yield of 3.25%. LCI Industries’s dividend payout ratio is currently 21.56%.
Insider Activity at LCI Industries
In related news, EVP Nick C. Fletcher sold 3,597 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $117.45, for a total value of $422,467.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.
Institutional Investors Weigh In On LCI Industries
Several hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its position in shares of LCI Industries by 2.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 3,453 shares of the company’s stock valued at $538,000 after acquiring an additional 83 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of LCI Industries by 2.8% in the 1st quarter. Raymond James Trust N.A. now owns 3,427 shares of the company’s stock valued at $355,000 after acquiring an additional 94 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in LCI Industries by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company’s stock valued at $1,310,000 after buying an additional 100 shares during the period. Bank of Nova Scotia increased its stake in LCI Industries by 0.4% in the 2nd quarter. Bank of Nova Scotia now owns 25,705 shares of the company’s stock valued at $2,880,000 after buying an additional 113 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in LCI Industries by 4.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,734 shares of the company’s stock valued at $284,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 97.77% of the company’s stock.
LCI Industries Company Profile
LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; appliances; air conditioners; televisions and sound systems; and other accessories.
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