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

Lindsay (NYSE:LNN) issued its quarterly 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. Lindsay had a return on equity of 15.53% and a net margin of 10.49%. The firm had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. During the same quarter in the previous year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis.

Lindsay Stock Up 0.5 %

NYSE:LNN opened at $115.35 on Thursday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 18.43 and a beta of 0.61. Lindsay has a one year low of $106.46 and a one year high of $149.13. The stock has a 50-day simple moving average of $121.77 and a 200 day simple moving average of $122.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.37 and a current ratio of 3.53.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.21%. Lindsay’s dividend payout ratio (DPR) is 22.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. TheStreet lowered Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus reduced their target price on Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a research note on Tuesday, December 19th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.50.

Hedge Funds Weigh In On Lindsay

Large investors have recently bought and sold shares of the business. Gotham Asset Management LLC raised its holdings in Lindsay by 9.0% during the first quarter. Gotham Asset Management LLC now owns 1,446 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 119 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Lindsay by 7.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 102 shares in the last quarter. HighTower Advisors LLC raised its holdings in Lindsay by 11.0% during the first quarter. HighTower Advisors LLC now owns 1,402 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 139 shares in the last quarter. Sei Investments Co. bought a new stake in Lindsay during the first quarter worth approximately $209,000. Finally, Jane Street Group LLC bought a new stake in Lindsay during the second quarter worth approximately $205,000. Institutional investors own 89.94% of the company’s stock.

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.