Lindsay (NYSE:LNN) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Lindsay (NYSE:LNN) released its earnings results on Tuesday. The industrial products company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.22, RTT News reports. The company had revenue of $143.60 million for the quarter, compared to the consensus estimate of $132.50 million. Lindsay had a return on equity of 12.26% and a net margin of 7.89%. Lindsay’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share.

Shares of LNN stock opened at $169.17 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.37 and a current ratio of 3.48. The stock has a fifty day simple moving average of $164.27 and a two-hundred day simple moving average of $132.21. The firm has a market capitalization of $1.84 billion, a PE ratio of 49.18 and a beta of 0.32. Lindsay has a 52-week low of $81.13 and a 52-week high of $173.68.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.78%. This is an increase from Lindsay’s previous quarterly dividend of $0.32. Lindsay’s dividend payout ratio is currently 35.96%.

Separately, Zacks Investment Research cut Lindsay from a “buy” rating to a “hold” rating and set a $172.00 price objective on the stock. in a research report on Tuesday, March 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Lindsay presently has a consensus rating of “Hold” and a consensus price target of $136.00.

In other news, Director Michael Christodolou sold 1,000 shares of the business’s stock in a transaction dated Monday, January 25th. The stock was sold at an average price of $148.43, for a total value of $148,430.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

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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