Lindsay (NYSE:LNN) Issues Quarterly Earnings Results, Beats Expectations By $0.68 EPS

Lindsay (NYSE:LNN) posted its quarterly earnings results on Thursday. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.68, Briefing.com reports. The business had revenue of $139.20 million during the quarter, compared to the consensus estimate of $144.38 million. Lindsay had a return on equity of 14.41% and a net margin of 11.75%. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS.

Lindsay Stock Performance

Lindsay stock opened at $122.89 on Friday. The company has a quick ratio of 2.58, a current ratio of 3.95 and a debt-to-equity ratio of 0.24. Lindsay has a twelve month low of $106.46 and a twelve month high of $137.31. The company’s 50-day moving average price is $116.57 and its 200-day moving average price is $121.37. The company has a market cap of $1.36 billion, a PE ratio of 18.65 and a beta of 0.61.

Lindsay Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.36 dividend. This is a boost from Lindsay’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. Lindsay’s dividend payout ratio (DPR) is presently 21.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Friday, April 5th. Finally, StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

About Lindsay

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.