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

Lindsay (NYSE:LNN) posted its quarterly earnings results on Thursday. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.05, MarketWatch Earnings reports. Lindsay had a net margin of 5.68% and a return on equity of 10.81%. The business had revenue of $123.10 million for the quarter, compared to analyst estimates of $123.52 million. During the same quarter last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis.

Shares of NYSE:LNN opened at $93.72 on Friday. Lindsay has a one year low of $71.86 and a one year high of $111.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.16 and a quick ratio of 2.50. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 34.08 and a beta of 0.29. The firm has a 50 day simple moving average of $92.02 and a 200 day simple moving average of $95.28.

In other Lindsay news, Director Michael Christodolou sold 5,500 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $100.45, for a total transaction of $552,475.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

LNN has been the subject of several recent analyst reports. Sidoti cut Lindsay from a “buy” rating to a “neutral” rating and set a $91.00 target price for the company. in a research note on Tuesday, April 7th. ValuEngine downgraded Lindsay from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $97.00.

About Lindsay

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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Earnings History for Lindsay (NYSE:LNN)

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