Lindsay (NYSE:LNN) released its quarterly earnings results on Thursday, January 9th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.27, RTT News reports. Lindsay had a net margin of 2.11% and a return on equity of 7.33%. The company had revenue of $109.40 million for the quarter, compared to the consensus estimate of $110.80 million. During the same period in the previous year, the firm earned $0.38 EPS. Lindsay’s revenue was down 2.3% on a year-over-year basis.
Lindsay stock traded up $0.80 during mid-day trading on Thursday, hitting $105.76. The company’s stock had a trading volume of 2,558 shares, compared to its average volume of 101,111. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.73 and a quick ratio of 2.59. The company has a market cap of $1.16 billion, a PE ratio of 72.94 and a beta of 0.31. The firm’s 50 day moving average is $95.60 and its 200 day moving average is $90.94. Lindsay has a 52-week low of $73.00 and a 52-week high of $111.76.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 13th. Lindsay’s payout ratio is 85.52%.
In related news, insider Randy A. Wood sold 4,504 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $109.06, for a total transaction of $491,206.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.
LNN has been the subject of a number of research analyst reports. ValuEngine downgraded Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, January 10th. TheStreet raised Lindsay from a “c+” rating to a “b” rating in a research note on Thursday, January 9th. Monness Crespi & Hardt upped their price objective on Lindsay from $70.00 to $82.00 and gave the company a “sell” rating in a report on Friday, January 10th. Zacks Investment Research upgraded shares of Lindsay from a “hold” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research report on Tuesday. Finally, Stifel Nicolaus increased their target price on shares of Lindsay from $89.00 to $100.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $107.25.
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's 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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