Lindsay (NYSE:LNN) Announces Quarterly Earnings Results

Lindsay (NYSE:LNN) issued its quarterly earnings data on Thursday. The industrial products company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.52 by $0.12, RTT News reports. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company had revenue of $151.50 million for the quarter, compared to analyst estimates of $172.06 million. During the same period last year, the company earned $1.63 earnings per share. Lindsay’s quarterly revenue was down 8.8% compared to the same quarter last year.

Lindsay Stock Performance

Shares of Lindsay stock opened at $116.08 on Friday. Lindsay has a one year low of $106.46 and a one year high of $137.31. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 18.51 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.37 and a current ratio of 3.87. The business’s 50 day moving average price is $121.06 and its 200 day moving average price is $122.83.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.21%. Lindsay’s payout ratio is 22.33%.

Analyst Ratings Changes

Several analysts have commented on LNN shares. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus lowered their price target on Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a research note on Tuesday, December 19th. TheStreet lowered Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Institutional Investors Weigh In On Lindsay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in Lindsay by 3.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,149 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 69 shares during the period. Royal Bank of Canada raised its position in Lindsay by 23.6% in the third quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 98 shares during the period. Envestnet Asset Management Inc. raised its position in Lindsay by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 102 shares during the period. Gotham Asset Management LLC raised its position in Lindsay by 9.0% in the first quarter. Gotham Asset Management LLC now owns 1,446 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 119 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in Lindsay by 1.2% in the second quarter. UBS Asset Management Americas Inc. now owns 11,362 shares of the industrial products company’s stock valued at $1,509,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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.