Lindsay (NYSE:LNN) Issues Earnings Results

Lindsay (NYSE:LNN) released its quarterly earnings data on Monday. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22, MarketWatch Earnings reports. Lindsay had a return on equity of 12.26% and a net margin of 7.89%. The company had revenue of $143.60 million for the quarter, compared to the consensus estimate of $132.50 million. During the same period in the previous year, the business earned $0.51 earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis.

LNN opened at $171.09 on Wednesday. The company has a fifty day moving average price of $164.42 and a two-hundred day moving average price of $132.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.37 and a current ratio of 3.48. Lindsay has a 52 week low of $81.13 and a 52 week high of $179.10. The firm has a market capitalization of $1.86 billion, a PE ratio of 49.74 and a beta of 0.32.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 13th. This is a positive change from Lindsay’s previous quarterly dividend of $0.32. Lindsay’s payout ratio is currently 35.96%.

Separately, Zacks Investment Research cut shares of Lindsay from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a research note on Tuesday, March 9th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $136.00.

In other Lindsay news, Director Michael Christodolou sold 1,000 shares of Lindsay stock in a transaction on Monday, January 25th. The shares were sold at an average price of $148.43, for a total transaction of $148,430.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by insiders.

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 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 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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