LCI Industries (NYSE:LCII) Releases Earnings Results, Beats Expectations 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) released its quarterly earnings data on Tuesday. The company reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.22 by $0.17, Zacks reports. LCI Industries had a net margin of 4.08% and a return on equity of 11.63%. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the company earned $2.40 EPS. The company's revenue for the quarter was up 5.1% compared to the same quarter last year.

LCI Industries Stock Down 1.0%

Shares of NYSE LCII traded down $1.00 during mid-day trading on Tuesday, reaching $94.94. The company had a trading volume of 140,217 shares, compared to its average volume of 394,671. The stock has a fifty day moving average of $93.71 and a two-hundred day moving average of $92.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 15.56 and a beta of 1.25. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, May 30th. LCI Industries's dividend payout ratio (DPR) is presently 75.41%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday. Robert W. Baird decreased their target price on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial increased their target price on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, LCI Industries presently has an average rating of "Hold" and an average target price of $114.50.

LCI Industries announced that its board has initiated a share repurchase program on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of LCI Industries

A number of hedge funds have recently made changes to their positions in LCII. Empowered Funds LLC purchased a new stake in shares of LCI Industries in the first quarter worth approximately $1,124,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in LCI Industries by 10.9% in 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 worth $6,702,000 after acquiring an additional 7,515 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of LCI Industries during the 1st quarter worth $588,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of LCI Industries by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,759 shares of the company's stock worth $1,290,000 after purchasing an additional 643 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

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.

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