Lindsay (NYSE:LNN) Posts Earnings Results, Beats Estimates By $0.12 EPS

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

Lindsay Stock Performance

Shares of LNN opened at $116.08 on Friday. Lindsay has a twelve month low of $106.46 and a twelve month high of $137.31. The firm has a market cap of $1.28 billion, a P/E ratio of 18.51 and a beta of 0.61. The firm’s 50 day moving average price is $121.06 and its two-hundred day moving average price is $122.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.37 and a current ratio of 3.87.

Lindsay Dividend Announcement

The firm 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 $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.21%. Lindsay’s dividend payout ratio is presently 22.33%.

Analyst Ratings Changes

LNN has been the subject of several recent research reports. Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a research report on Friday. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet cut shares of Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus decreased their price objective on shares of Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a research note on Tuesday, December 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $138.33.

Institutional Investors Weigh In On Lindsay

Several hedge funds have recently bought and sold shares of LNN. Royal Bank of Canada raised its holdings in Lindsay by 23.6% in the 3rd quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 98 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Lindsay by 195.3% during the second quarter. Tower Research Capital LLC TRC now owns 942 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 623 shares during the period. Captrust Financial Advisors increased its holdings in shares of Lindsay by 21.3% during the first quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company’s stock worth $178,000 after purchasing an additional 199 shares during the period. Advisor Group Holdings Inc. increased its holdings in shares of Lindsay by 130.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the industrial products company’s stock worth $184,000 after purchasing an additional 638 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in shares of Lindsay during the third quarter worth approximately $202,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.