Lindsay (NYSE:LNN) Announces 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 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12, RTT News reports. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The firm had revenue of $151.50 million during the quarter, compared to the consensus estimate of $172.06 million. During the same quarter in the prior year, the business posted $1.63 earnings per share. Lindsay’s revenue for the quarter was down 8.8% on a year-over-year basis.

Lindsay Stock Performance

Shares of NYSE LNN traded up $1.76 during mid-day trading on Friday, hitting $116.25. The company had a trading volume of 130,069 shares, compared to its average volume of 98,310. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 18.54 and a beta of 0.61. Lindsay has a 12 month low of $106.46 and a 12 month high of $137.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.37. The firm’s 50 day simple moving average is $121.06 and its two-hundred day simple moving average is $122.83.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s dividend payout ratio (DPR) is 22.33%.

Wall Street Analyst Weigh In

LNN has been the topic of a number of research analyst reports. TheStreet downgraded Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Friday. Stifel Nicolaus reduced their target price on Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a report on Tuesday, December 19th. Finally, StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Institutional Trading of Lindsay

Several hedge funds have recently made changes to their positions in LNN. Royal Bank of Canada increased its position in Lindsay by 23.6% in the 3rd quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 98 shares during the period. Tower Research Capital LLC TRC increased its position in Lindsay by 195.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 942 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 623 shares during the period. Captrust Financial Advisors increased its position 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 acquiring an additional 199 shares during the period. Advisor Group Holdings Inc. increased its position in Lindsay by 130.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the industrial products company’s stock valued at $184,000 after acquiring an additional 638 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in Lindsay in the 3rd quarter valued at approximately $202,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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.