Lindsay (NYSE:LNN) Issues Earnings Results

Lindsay (NYSE:LNN - Get Free Report) released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $172.06 million. Lindsay had a return on equity of 15.53% and a net margin of 10.49%. The firm's quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 EPS.

Lindsay Stock Performance

Shares of NYSE:LNN traded down $0.67 during midday trading on Thursday, hitting $114.68. The company had a trading volume of 251,010 shares, compared to its average volume of 85,602. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.53 and a quick ratio of 2.37. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 18.32 and a beta of 0.61. Lindsay has a 12-month low of $106.46 and a 12-month high of $137.31. The company has a fifty day moving average of $121.40 and a two-hundred day moving average of $122.84.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.35 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.22%. Lindsay's dividend payout ratio (DPR) is 22.36%.

Institutional Investors Weigh In On Lindsay

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in Lindsay by 23.6% in the 3rd quarter. Royal Bank of Canada now owns 514 shares of the industrial products company's stock worth $74,000 after buying an additional 98 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Lindsay by 195.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 942 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 623 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Lindsay by 21.3% in the 1st quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company's stock valued at $178,000 after acquiring an additional 199 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of Lindsay by 130.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the industrial products company's stock valued at $184,000 after acquiring an additional 638 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Lindsay in the 3rd quarter valued at about $202,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LNN has been the subject of a number of research reports. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Thursday. TheStreet lowered shares of Lindsay from a "b-" rating to a "c+" rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus decreased their target price on shares of Lindsay from $129.00 to $123.00 and set a "hold" rating for the company in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $136.50.

Lindsay Company Profile

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.