LCI Industries (NYSE:LCII) Posts Earnings Results, Beats Estimates By $0.17 EPS

Key Points

• LCI Industries reported earnings of $2.39 per share, exceeding analysts' expectations by $0.17, with revenue of $1.11 billion for the quarter, up 5.1% from the previous year.
• The company recently announced a quarterly dividend of $1.15 per share, resulting in an annualized yield of 4.8% with a payout ratio of 75.41%.
• Following the earnings report, LCI Industries shares decreased by 1.0% during mid-day trading, and several analysts have adjusted their price targets, with an average target of $114.50 and a consensus rating of "Hold."

LCI Industries (NYSE:LCII - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.17, Zacks reports. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $2.40 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis.

LCI Industries Price Performance

NYSE:LCII traded down $0.66 during mid-day trading on Friday, reaching $95.12. The stock had a trading volume of 254,755 shares, compared to its average volume of 325,345. The firm has a 50 day moving average price of $94.29 and a two-hundred day moving average price of $92.46. The stock has a market capitalization of $2.31 billion, a P/E ratio of 15.88 and a beta of 1.25. LCI Industries has a one year low of $72.31 and a one year high of $129.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.80.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $1.15 dividend. The ex-dividend date was Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a yield of 4.8%. LCI Industries's payout ratio is presently 76.79%.

Institutional Trading of LCI Industries

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LCI Industries by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,759 shares of the company's stock worth $1,290,000 after buying an additional 643 shares during the last quarter. AQR Capital Management LLC bought a new stake in LCI Industries in the first quarter valued at approximately $588,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of LCI Industries by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,660 shares of the company's stock valued at $6,702,000 after acquiring an additional 7,515 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of LCI Industries during the first quarter valued at approximately $1,124,000. Institutional investors own 99.71% of the company's stock.

LCI Industries announced that its board has authorized a share buyback program on Thursday, May 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LCII shares. BMO Capital Markets lifted their price objective on LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a report on Wednesday. Truist Financial lifted their target price on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Robert W. Baird reduced their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, LCI Industries currently has an average rating of "Hold" and a consensus target price of $103.25.

LCI Industries Company Profile

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.