Linamar Corp reports results for the quarter ended June 30 - Earnings Summary

• Linamar Corp LNR.TO reported quarterly adjusted earnings of C$2.81​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of C$3.06. The mean expectation of five analysts for the quarter was for earnings of C$2.75 per share. Wall Street expected results to range from C$2.55 to C$2.90 per share.

• Revenue fell 7.2% to C$2.64 billion from a year ago; analysts expected C$2.70 billion.

• Linamar Corp shares had risen by 8.2% this quarter and gained 23.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.4% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the auto, truck & motorcycle parts peer group is also "buy"

• Wall Street's median 12-month price target for Linamar Corp is C$70.50, about 0.6% above its last closing price of C$70.11

This summary was machine generated from LSEG data August 13 at 09:01 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)