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

Lindsay (NYSE:LNNGet Free Report) posted its quarterly earnings results on Thursday. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.12, RTT News reports. The business had revenue of $151.50 million during the quarter, compared to analyst estimates of $172.06 million. Lindsay had a net margin of 10.49% and a return on equity of 15.53%. The company’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share.

Lindsay Stock Performance

NYSE:LNN opened at $115.35 on Thursday. The company has a quick ratio of 2.37, a current ratio of 3.53 and a debt-to-equity ratio of 0.25. Lindsay has a twelve month low of $106.46 and a twelve month high of $149.13. The stock has a market cap of $1.27 billion, a P/E ratio of 18.43 and a beta of 0.61. The firm’s fifty day simple moving average is $121.77 and its 200 day simple moving average is $122.90.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Wednesday, February 14th. Lindsay’s payout ratio is 22.36%.

Institutional Investors Weigh In On Lindsay

Several institutional investors and hedge funds have recently modified their holdings of LNN. Norges Bank bought a new position in Lindsay in the fourth quarter worth about $21,112,000. Millennium Management LLC lifted its stake in shares of Lindsay by 461.5% in the 2nd quarter. Millennium Management LLC now owns 150,404 shares of the industrial products company’s stock valued at $19,977,000 after purchasing an additional 123,619 shares during the period. BlackRock Inc. boosted its position in shares of Lindsay by 5.9% during the first quarter. BlackRock Inc. now owns 1,886,075 shares of the industrial products company’s stock valued at $296,133,000 after purchasing an additional 104,363 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Lindsay by 212.8% in the fourth quarter. Nuveen Asset Management LLC now owns 92,299 shares of the industrial products company’s stock worth $11,921,000 after purchasing an additional 62,794 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Lindsay by 1,276.9% in the second quarter. Renaissance Technologies LLC now owns 53,700 shares of the industrial products company’s stock worth $7,132,000 after purchasing an additional 49,800 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LNN. Stifel Nicolaus dropped their price objective on Lindsay from $129.00 to $123.00 and set a “hold” rating for the company in a research note on Tuesday, December 19th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Finally, TheStreet downgraded shares of Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Lindsay presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.50.

Check Out Our Latest Stock Analysis on LNN

Lindsay Company Profile

(Get Free Report)

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.

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Earnings History for Lindsay (NYSE:LNN)

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