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Lennox (LII) Cheers Shareholders With 20% Dividend Hike
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Lennox International Inc. (LII - Free Report) announced a 20.3% hike in quarterly dividend rate to 77 cents per share from the prior figure of 64 cents, in a bid to impress investors. The dividend will be payable on Jul 15, 2019 to its shareholders of record as of Jun 28, 2019. Previously, the board of directors approved a 25.5% dividend raise on May 16, 2018.
Notably, the board of directors of Lennox has been approving dividend hikes for more than a decade now. Notably, it paid $26 million in dividends in first-quarter 2019, and $94 million and $80 million in 2018 and 2017, respectively.
Moreover, Lennox is highly active on the buyback front. In 2018, the company repurchased $450 million shares of its common stock. Subsequently, during the first three months of 2019, it bought back 0.4 million shares of its common stock for $100.0 million.
What’s Driving the Dividend Policy?
Lennox’s business has been banking on underlying demand fundamentals in core residential and commercial HVAC markets, favorable price and mix, along with sourcing and engineering-led cost reductions. During first-quarter 2019, the company’s adjusted earnings of $1.68 per share increased 37.7% year over year on the back of the above-mentioned tailwinds. For full-year 2019, it expects adjusted EPS from continuing operations in the range of $12.00-$12.60, significantly up from the prior-year reported figure of $9.42.
Lennox has solid growth prospects, as is evident from the Zacks Consensus Estimate for 2019 earnings of $12.32 per share, indicating growth of 30.8% from the year-ago reported figure. Also, it has a three-five year expected EPS growth rate of 20%.
Notably, shares of Lennox have gained 26.9% year to date, outperforming its industry's 22.1% rally.
EMCOR is expected to register an EPS growth rate of 11% this year.
Great Lakes’ earnings growth rate for 2019 is expected to be 300%.
North American Construction has an expected earnings growth rate of 221.4% for 2019.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Lennox (LII) Cheers Shareholders With 20% Dividend Hike
Lennox International Inc. (LII - Free Report) announced a 20.3% hike in quarterly dividend rate to 77 cents per share from the prior figure of 64 cents, in a bid to impress investors. The dividend will be payable on Jul 15, 2019 to its shareholders of record as of Jun 28, 2019. Previously, the board of directors approved a 25.5% dividend raise on May 16, 2018.
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Notably, the board of directors of Lennox has been approving dividend hikes for more than a decade now. Notably, it paid $26 million in dividends in first-quarter 2019, and $94 million and $80 million in 2018 and 2017, respectively.
Moreover, Lennox is highly active on the buyback front. In 2018, the company repurchased $450 million shares of its common stock. Subsequently, during the first three months of 2019, it bought back 0.4 million shares of its common stock for $100.0 million.
What’s Driving the Dividend Policy?
Lennox’s business has been banking on underlying demand fundamentals in core residential and commercial HVAC markets, favorable price and mix, along with sourcing and engineering-led cost reductions. During first-quarter 2019, the company’s adjusted earnings of $1.68 per share increased 37.7% year over year on the back of the above-mentioned tailwinds. For full-year 2019, it expects adjusted EPS from continuing operations in the range of $12.00-$12.60, significantly up from the prior-year reported figure of $9.42.
Lennox has solid growth prospects, as is evident from the Zacks Consensus Estimate for 2019 earnings of $12.32 per share, indicating growth of 30.8% from the year-ago reported figure. Also, it has a three-five year expected EPS growth rate of 20%.
Notably, shares of Lennox have gained 26.9% year to date, outperforming its industry's 22.1% rally.
Zacks Rank & Stocks to Consider
Lennox currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Construction sector are EMCOR Group, Inc. (EME - Free Report) , Great Lakes Dredge & Dock Corporation (GLDD - Free Report) and North American Construction Group Ltd. (NOA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EMCOR is expected to register an EPS growth rate of 11% this year.
Great Lakes’ earnings growth rate for 2019 is expected to be 300%.
North American Construction has an expected earnings growth rate of 221.4% for 2019.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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