Lindsay (NYSE:LNN) Announces Quarterly Earnings Results

Lindsay (NYSE:LNN) posted 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 net margin of 8.14% and a return on equity of 13.65%. The firm had revenue of $108.50 million for the quarter, compared to the consensus estimate of $113.07 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was down .8% compared to the same quarter last year.

NYSE LNN traded up $4.27 during mid-day trading on Friday, reaching $143.09. The stock had a trading volume of 870 shares, compared to its average volume of 104,289. Lindsay has a 1 year low of $71.86 and a 1 year high of $139.02. The stock has a market cap of $1.55 billion, a PE ratio of 38.99 and a beta of 0.29. The company has a fifty day moving average price of $121.49 and a 200 day moving average price of $106.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.40 and a quick ratio of 2.37.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 26th. Investors of record on Friday, February 12th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. Lindsay’s payout ratio is currently 35.96%.

Several equities analysts have recently issued reports on LNN shares. Boenning Scattergood upgraded shares of Lindsay from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a report on Thursday, October 22nd. BidaskClub upgraded shares of Lindsay from a “buy” rating to a “strong-buy” rating in a report on Friday, December 18th. Finally, Monness Crespi & Hardt upgraded shares of Lindsay from a “sell” rating to a “neutral” rating in a report on Friday, October 23rd. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Lindsay currently has a consensus rating of “Buy” and a consensus price target 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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