Lindsay (NYSE:LNN) released its quarterly earnings data on Wednesday. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.10), MarketWatch Earnings reports. Lindsay had a return on equity of 13.65% and a net margin of 8.14%. The firm had revenue of $108.50 million during the quarter, compared to the consensus estimate of $113.07 million. During the same period in the previous year, the firm earned $0.77 EPS. The business’s revenue was down .8% compared to the same quarter last year.
Shares of NYSE LNN traded up $5.11 during midday trading on Friday, hitting $143.93. The stock had a trading volume of 894 shares, compared to its average volume of 104,289. The company has a market capitalization of $1.56 billion, a PE ratio of 38.99 and a beta of 0.29. The stock has a 50 day simple moving average of $121.49 and a 200-day simple moving average of $106.10. Lindsay has a 1 year low of $71.86 and a 1 year high of $139.02. The company has a quick ratio of 2.37, a current ratio of 3.40 and a debt-to-equity ratio of 0.39.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 26th. Shareholders of record on Friday, February 12th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. Lindsay’s dividend payout ratio is currently 35.96%.
A number of research firms have issued reports on LNN. Boenning Scattergood raised Lindsay from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Thursday, October 22nd. Monness Crespi & Hardt upgraded Lindsay from a “sell” rating to a “neutral” rating in a report on Friday, October 23rd. Finally, BidaskClub upgraded Lindsay from a “buy” rating to a “strong-buy” rating in a report on Friday, December 18th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $108.25.
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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