Lindsay (NYSE:LNN) Posts Earnings Results, Beats Expectations By $0.12 EPS

Lindsay (NYSE:LNN) posted 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 net margin of 10.74% and a return on equity of 15.04%. 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 prior year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis.

Lindsay Trading Up 1.4 %

Shares of Lindsay stock opened at $116.08 on Friday. The company’s fifty day simple moving average is $121.06 and its 200-day simple moving average is $122.83. The stock has a market capitalization of $1.28 billion, a PE ratio of 18.51 and a beta of 0.61. Lindsay has a 1-year low of $106.46 and a 1-year 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.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.21%. Lindsay’s dividend payout ratio is presently 22.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LNN. Price T Rowe Associates Inc. MD raised its position in shares of Lindsay by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,149 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 69 shares during the period. Royal Bank of Canada raised its position in shares of Lindsay by 23.6% during the 3rd quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 98 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Lindsay by 7.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 102 shares during the period. Gotham Asset Management LLC raised its position in shares of Lindsay by 9.0% during the 1st quarter. Gotham Asset Management LLC now owns 1,446 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 119 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of Lindsay by 1.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 11,362 shares of the industrial products company’s stock valued at $1,509,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.