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

Lindsay (NYSE:LNNGet Rating) posted its earnings results on Thursday. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.68, RTT News reports. The business had revenue of $214.30 million for the quarter, compared to analyst estimates of $188.95 million. Lindsay had a net margin of 6.76% and a return on equity of 16.04%. Lindsay’s revenue was up 32.4% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS.

NYSE LNN opened at $138.93 on Friday. Lindsay has a twelve month low of $116.77 and a twelve month high of $179.26. The stock has a market cap of $1.53 billion, a PE ratio of 33.24 and a beta of 0.53. The firm has a 50-day simple moving average of $127.66 and a 200 day simple moving average of $136.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.63 and a current ratio of 2.79.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from Lindsay’s previous quarterly dividend of $0.33. Lindsay’s dividend payout ratio is currently 31.58%.

Several equities research analysts have recently issued reports on the company. Roth Capital began coverage on Lindsay in a research report on Friday, June 3rd. They issued a “neutral” rating and a $135.00 price target on the stock. StockNews.com started coverage on Lindsay in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus cut their price target on Lindsay from $180.00 to $172.00 in a report on Wednesday, June 15th.

In other Lindsay news, insider James Scott Marion sold 1,945 shares of the company’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 completion of the transaction, 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 SEC, which is available at this hyperlink. Insiders own 0.91% of the company’s stock.

Several hedge funds have recently made changes to their positions in LNN. Citigroup Inc. increased its stake in Lindsay by 3.5% in the first quarter. Citigroup Inc. now owns 15,228 shares of the industrial products company’s stock valued at $2,391,000 after acquiring an additional 515 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Lindsay by 13.0% in the 1st quarter. Advisors Asset Management Inc. now owns 11,013 shares of the industrial products company’s stock valued at $1,729,000 after purchasing an additional 1,271 shares during the period. Raymond James & Associates acquired a new position in shares of Lindsay in the 1st quarter worth approximately $1,653,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Lindsay by 14.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,459 shares of the industrial products company’s stock worth $1,485,000 after buying an additional 1,215 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Lindsay by 54.0% during the 1st quarter. MetLife Investment Management LLC now owns 6,021 shares of the industrial products company’s stock worth $945,000 after buying an additional 2,112 shares during the period. Institutional investors own 85.44% of the company’s stock.

Lindsay Company Profile (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.

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Earnings History for Lindsay (NYSE:LNN)

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