Lindsay (NYSE:LNN) Posts Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• Lindsay Corporation reported earnings of $0.99 EPS, missing the analysts' expectations of $1.04 EPS by $0.05.
• The company generated $153.56 million in revenue for the quarter, falling short of the expected $156.91 million, and experienced a 0.9% year-over-year decline in revenue.
• Despite the earnings miss, some analysts have maintained a "hold" rating on the stock, with a revised average target price of $136.00.

Lindsay (NYSE:LNN - Get Free Report) issued its quarterly earnings data on Thursday. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.05), Zacks reports. Lindsay had a return on equity of 15.09% and a net margin of 11.21%.The business had revenue of $153.56 million during the quarter, compared to analysts' expectations of $156.91 million. During the same quarter last year, the business posted $1.17 EPS. The company's quarterly revenue was down .9% on a year-over-year basis.

Lindsay Price Performance

NYSE LNN traded down $10.25 during trading hours on Thursday, reaching $112.40. 325,373 shares of the stock traded hands, compared to its average volume of 102,531. The stock has a 50 day simple moving average of $137.83 and a two-hundred day simple moving average of $136.25. Lindsay has a 1 year low of $109.87 and a 1 year high of $150.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.64 and a quick ratio of 2.64. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 16.15 and a beta of 0.82.

Insiders Place Their Bets

In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the sale, the director owned 3,274 shares in the company, valued at $465,169.92. This trade represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LNN. State of Wyoming increased its holdings in shares of Lindsay by 196.4% in the second quarter. State of Wyoming now owns 1,227 shares of the industrial products company's stock worth $177,000 after buying an additional 813 shares during the period. Corient Private Wealth LLC purchased a new position in shares of Lindsay in the second quarter worth about $217,000. Tower Research Capital LLC TRC increased its holdings in shares of Lindsay by 642.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the industrial products company's stock worth $225,000 after buying an additional 1,350 shares during the period. Creative Planning purchased a new position in shares of Lindsay in the second quarter worth about $227,000. Finally, Engineers Gate Manager LP increased its holdings in shares of Lindsay by 65.1% in the second quarter. Engineers Gate Manager LP now owns 4,507 shares of the industrial products company's stock worth $650,000 after buying an additional 1,777 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LNN shares. Stifel Nicolaus lifted their target price on shares of Lindsay from $128.00 to $136.00 and gave the company a "hold" rating in a research report on Friday, June 27th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Lindsay in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $136.00.

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.

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