Lindsay (NYSE:LNN) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Lindsay (NYSE:LNN) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $113.07 million. During the same quarter in the previous year, the company earned $0.77 earnings per share. The company’s revenue was down .8% on a year-over-year basis.

Shares of Lindsay stock traded up $5.08 during trading hours on Friday, hitting $143.90. The company’s stock had a trading volume of 3,719 shares, compared to its average volume of 104,289. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.40 and a quick ratio of 2.37. The company has a market capitalization of $1.56 billion, a PE ratio of 40.61 and a beta of 0.29. Lindsay has a 12 month low of $71.86 and a 12 month high of $139.02. The stock has a 50 day moving average of $121.49 and a 200 day moving average of $106.10.

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 issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. Lindsay’s dividend payout ratio (DPR) is currently 35.96%.

Several brokerages have issued reports on LNN. Boenning Scattergood raised shares of Lindsay from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research report on Thursday, October 22nd. Monness Crespi & Hardt upgraded Lindsay from a “sell” rating to a “neutral” rating in a research note on Friday, October 23rd. Finally, BidaskClub upgraded Lindsay from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 18th. Three 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 a consensus rating of “Buy” and a consensus target price of $108.25.

About Lindsay

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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Earnings History for Lindsay (NYSE:LNN)

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