Lindsay (NYSE:LNN) released its quarterly earnings data on Monday. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.22, MarketWatch Earnings reports. The company had revenue of $143.60 million during the quarter, compared to analyst estimates of $132.50 million. Lindsay had a net margin of 7.89% and a return on equity of 12.26%. Lindsay’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS.
Shares of LNN stock opened at $171.09 on Wednesday. The firm has a market capitalization of $1.86 billion, a PE ratio of 49.74 and a beta of 0.32. The firm has a fifty day simple moving average of $164.42 and a two-hundred day simple moving average of $132.56. The company has a current ratio of 3.48, a quick ratio of 2.37 and a debt-to-equity ratio of 0.38. Lindsay has a 12 month low of $81.13 and a 12 month high of $179.10.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be paid 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 is Thursday, May 13th. This is a positive change from Lindsay’s previous quarterly dividend of $0.32. Lindsay’s payout ratio is 35.96%.
Separately, Zacks Investment Research lowered shares of Lindsay from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a research note on Tuesday, March 9th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $136.00.
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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