Lindsay (NYSE:LNN) Issues Quarterly Earnings Results

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

Lindsay Trading Up 1.5 %

LNN traded up $1.76 during mid-day trading on Friday, hitting $116.25. 130,069 shares of the stock were exchanged, compared to its average volume of 98,310. The firm’s fifty day moving average is $121.06 and its two-hundred day moving average is $122.83. Lindsay has a 1-year low of $106.46 and a 1-year high of $137.31. The company has a current ratio of 3.87, a quick ratio of 2.37 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.28 billion, a PE ratio of 18.54 and a beta of 0.61.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, May 16th. Lindsay’s payout ratio is 22.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LNN. TheStreet cut Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Stifel Nicolaus lowered their price target on Lindsay from $129.00 to $123.00 and set a “hold” rating for the company in a report on Tuesday, December 19th. Northcoast Research upgraded Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a report on Friday. Finally, StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.33.

Hedge Funds Weigh In On Lindsay

Several hedge funds have recently bought and sold shares of LNN. Royal Bank of Canada grew its stake in Lindsay by 23.6% during the 3rd quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock worth $74,000 after buying an additional 98 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Lindsay by 195.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 942 shares of the industrial products company’s stock worth $112,000 after buying an additional 623 shares during the last quarter. Captrust Financial Advisors grew its stake in Lindsay by 21.3% during the 1st quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company’s stock worth $178,000 after buying an additional 199 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in 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 last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in Lindsay during the third quarter worth $202,000. Institutional investors and hedge funds 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.