Lindsay (NYSE:LNN) posted its quarterly earnings results on Monday. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.22, MarketWatch Earnings reports. The company had revenue of $143.60 million for the quarter, compared to analysts’ expectations of $132.50 million. Lindsay had a return on equity of 12.26% and a net margin of 7.89%. The firm’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share.
NYSE LNN opened at $171.09 on Wednesday. Lindsay has a twelve month low of $81.13 and a twelve month high of $179.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.37 and a current ratio of 3.48. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 49.74 and a beta of 0.32. The firm’s 50 day moving average price is $164.42 and its two-hundred day moving average price is $132.56.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.77%. This is a boost from Lindsay’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, May 13th. Lindsay’s payout ratio is presently 35.96%.
Separately, Zacks Investment Research cut shares of Lindsay from a “buy” rating to a “hold” rating and set a $172.00 price objective on the stock. in a research report on Tuesday, March 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average 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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