Lindsay (NYSE:LNN) announced its quarterly earnings results on Thursday. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.38), RTT News reports. Lindsay had a net margin of 3.70% and a return on equity of 11.53%. The business had revenue of $123.30 million for the quarter, compared to analyst estimates of $136.22 million. During the same period in the prior year, the business earned $0.59 EPS. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year.
LNN opened at $93.59 on Friday. Lindsay has a fifty-two week low of $83.57 and a fifty-two week high of $105.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.13 and a quick ratio of 2.71. The firm has a market cap of $961.17 million, a PE ratio of 31.83, a PEG ratio of 1.42 and a beta of 0.30.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.32%. Lindsay’s dividend payout ratio is currently 42.18%.
Several equities research analysts have issued reports on the company. Stifel Nicolaus cut their price target on Lindsay from $94.00 to $91.00 and set a “hold” rating for the company in a report on Tuesday, September 4th. Zacks Investment Research downgraded Lindsay from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. ValuEngine downgraded Lindsay from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. TheStreet raised Lindsay from a “c+” rating to a “b+” rating in a report on Thursday, June 28th. Finally, Monness Crespi & Hardt set a $70.00 price target on Lindsay and gave the company a “sell” rating in a report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Lindsay presently has an average rating of “Hold” and an average price target of $91.33.
In other news, Director Bill Welsh sold 3,000 shares of Lindsay stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $93.52, for a total transaction of $280,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's 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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