Lindsay (NYSE:LNN) Announces Quarterly Earnings Results, Beats Expectations By $0.68 EPS

Lindsay (NYSE:LNNGet Rating) announced its quarterly earnings data on Thursday. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.68, RTT News reports. The firm had revenue of $214.30 million during the quarter, compared to the consensus estimate of $188.95 million. Lindsay had a return on equity of 16.04% and a net margin of 6.76%. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS.

LNN traded up $6.11 during midday trading on Friday, reaching $138.93. The company’s stock had a trading volume of 87,804 shares, compared to its average volume of 62,002. The stock has a market cap of $1.53 billion, a P/E ratio of 33.24 and a beta of 0.53. The company has a fifty day simple moving average of $127.66 and a 200 day simple moving average of $136.69. The company has a current ratio of 2.79, a quick ratio of 1.63 and a debt-to-equity ratio of 0.32. Lindsay has a twelve month low of $116.77 and a twelve month high of $179.26.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be issued a $0.34 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.98%. This is a positive change from Lindsay’s previous quarterly dividend of $0.33. Lindsay’s dividend payout ratio (DPR) is 31.58%.

LNN has been the subject of a number of recent research reports. Roth Capital assumed coverage on Lindsay in a research note on Friday, June 3rd. They set a “neutral” rating and a $135.00 price target for the company. Stifel Nicolaus lowered their price objective on Lindsay from $180.00 to $172.00 in a report on Wednesday, June 15th. Finally, StockNews.com assumed coverage on Lindsay in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In other Lindsay news, insider James Scott Marion sold 1,945 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $146.01, for a total value of $283,989.45. Following the sale, the insider now owns 4,520 shares of the company’s stock, valued at approximately $659,965.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings in Lindsay by 21.3% in the 1st quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company’s stock valued at $178,000 after buying an additional 199 shares during the period. Sei Investments Co. acquired a new position in shares of Lindsay in the 1st quarter valued at $209,000. Engineers Gate Manager LP raised its stake in shares of Lindsay by 87.1% in the 1st quarter. Engineers Gate Manager LP now owns 2,490 shares of the industrial products company’s stock valued at $391,000 after buying an additional 1,159 shares in the last quarter. Prelude Capital Management LLC raised its stake in shares of Lindsay by 28.5% in the 1st quarter. Prelude Capital Management LLC now owns 2,705 shares of the industrial products company’s stock valued at $425,000 after buying an additional 600 shares in the last quarter. Finally, Vident Investment Advisory LLC raised its stake in shares of Lindsay by 14.6% in the 1st quarter. Vident Investment Advisory LLC now owns 2,946 shares of the industrial products company’s stock valued at $462,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 85.44% of the company’s stock.

About Lindsay (Get Rating)

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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 and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

Further Reading

Earnings History for Lindsay (NYSE:LNN)

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