Lindsay (NYSE:LNN) Issues Quarterly Earnings Results

Lindsay (NYSE:LNN) announced its earnings results on Thursday. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.68, Briefing.com reports. The firm had revenue of $139.20 million during the quarter, compared to analysts’ expectations of $144.38 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS.

Lindsay Stock Up 14.4 %

Shares of LNN stock opened at $129.56 on Friday. Lindsay has a 1-year low of $106.46 and a 1-year high of $137.31. The stock’s fifty day moving average price is $116.46 and its 200 day moving average price is $121.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 20.66 and a beta of 0.61.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, May 16th. Lindsay’s payout ratio is 22.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Friday, April 5th. TheStreet lowered Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lindsay currently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.