LCI Industries (NYSE:LCII – Get Rating) – Equity research analysts at Jefferies Financial Group have lowered their third quarter 2022 EPS estimates for LCI Industries in a research report delivered to clients and investors on Tuesday, August 2 . Jefferies Financial Group analyst B. Jordan now expects the company to earn $3.43 per share for the quarter, down from its previous estimate of $3.75. The consensus estimate for LCI Industries’ current full-year earnings is $18.61 per share. Jefferies Financial Group also released 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.
LCII has been the subject of a number of other research reports. MKM Partners began covering LCI Industries shares in a research report on Thursday, May 5. They issued a “buy” rating and a price target of $153.00 for the company. DA Davidson downgraded LCI Industries shares from a “buy” rating to a “neutral” rating and set a price target of $131.00 for the company. in a research report on Monday, August 1. They noted that the move was a review call. StockNews.com downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird cut his price target on LCI Industries shares from $175.00 to $155.00 in a Wednesday, May 11 research report. Finally, Truist Financial cut its price target on LCI Industries shares to $135.00 in a Thursday, May 26 research report.
Price performance of LCI Industries
Shares of LCII opened at $129.32 on Friday. LCI Industries has a fifty-two week low of $96.32 and a fifty-two week high of $163.33. The company has a market capitalization of $3.29 billion, a price-earnings ratio of 6.64 and a beta of 1.44. The company has a 50-day simple moving average of $118.75 and a 200-day simple moving average of $115.93. The company has a debt ratio of 0.79, a quick ratio of 0.93 and a current ratio of 2.66.
LCI Industries (NYSE:LCII – Get Rating) last announced its results on Tuesday, May 10. The company reported earnings per share of $7.71 for the quarter, beating the consensus estimate of $4.48 by $3.23. LCI Industries posted a net margin of 8.93% and a return on equity of 41.58%. The company posted revenue of $1.64 billion in the quarter, versus a consensus estimate of $1.40 billion. In the same quarter of the previous year, the company had earned earnings per share of $2.93. The company’s quarterly revenue increased by 64.4% compared to the same quarter last year.
LCI Industries increases its dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Friday, June 3 received a dividend of $1.05. This is a boost from LCI Industries’ previous quarterly dividend of $0.90. This represents an annualized dividend of $4.20 and a yield of 3.25%. The ex-dividend date was Thursday, June 2. LCI Industries’ payout ratio is currently 21.56%.
Insiders place their bets
In other news, Executive Vice President Nick C. Fletcher sold 3,597 shares of the company in a trade on Friday, May 27. The shares were sold at an average price of $117.45, for a total transaction of $422,467.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. 3.00% of the shares are held by insiders.
Hedge funds weigh on LCI Industries
Several hedge funds and other institutional investors have recently changed their positions in the company. Mutual of America Capital Management LLC increased its stake in LCI Industries shares by 2.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 3,453 shares of the company valued at $538,000 after acquiring 83 additional shares last quarter. Raymond James Trust NA increased its stake in LCI Industries shares by 2.8% in the 1st quarter. Raymond James Trust NA now owns 3,427 shares of the company valued at $355,000 after acquiring 94 additional shares last quarter. Louisiana State Employees Retirement System increased its stake in LCI Industries shares by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company valued at $1,310,000 after acquiring 100 additional shares in the last quarter. The Bank of Nova Scotia increased its holdings of LCI Industries shares by 0.4% in the second quarter. The Bank of Nova Scotia now owns 25,705 shares of the company valued at $2,880,000 after acquiring 113 additional shares last quarter. 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 worth $284,000 after buying 120 more shares last quarter. Institutional investors and hedge funds own 97.77% of the company’s shares.
About LCI Industries
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LCI Industries, together with its subsidiaries, manufactures and supplies components for recreational vehicle (RV) manufacturers and adjacent industries in the United States and abroad. 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 frames and related components; axles and suspension solutions; sliding mechanisms and solutions; bath, kitchen and other thermoformed products; vinyl, aluminum and frameless windows; manual, electric and hydraulic stabilizing and leveling systems; entry, luggage, patio and ramp doors; furniture and mattresses; electric and manual access steps; awnings and awning accessories; towing products; truck accessories; Electronic components; Appliances; air conditioners; televisions and audio systems; and other accessories.
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