Lindsay (NYSE:LNN) Posts Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Lindsay (NYSE:LNN) issued its earnings results on Wednesday. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.16), MarketWatch Earnings reports. Lindsay had a return on equity of 13.97% and a net margin of 7.50%. The firm had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $140.41 million. During the same period last year, the business posted $0.49 earnings per share. The company’s quarterly revenue was up 53.2% compared to the same quarter last year.

NYSE:LNN traded down $1.83 during mid-day trading on Friday, reaching $136.99. The stock had a trading volume of 2,769 shares, compared to its average volume of 48,927. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 35.01 and a beta of 0.34. Lindsay has a 1-year low of $123.68 and a 1-year high of $179.26. The stock’s 50 day simple moving average is $152.24 and its two-hundred day simple moving average is $157.82. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 1.96.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 28th. Investors of record on Monday, February 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. Lindsay’s dividend payout ratio (DPR) is 34.11%.

In related news, Director Michael Nahl sold 800 shares of Lindsay stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $162.82, for a total value of $130,256.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley lifted its holdings in Lindsay by 92.6% in the second quarter. Morgan Stanley now owns 66,500 shares of the industrial products company’s stock worth $10,992,000 after acquiring an additional 31,968 shares during the last quarter. UBS Group AG lifted its holdings in Lindsay by 10.7% in the third quarter. UBS Group AG now owns 19,051 shares of the industrial products company’s stock worth $2,892,000 after acquiring an additional 1,847 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in Lindsay by 41.4% in the third quarter. Royal Bank of Canada now owns 1,458 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 427 shares during the last quarter. 86.17% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Lindsay from a “hold” rating to a “strong sell” rating and set a $124.00 price target for the company. in a report on Monday, October 25th. Stifel Nicolaus upgraded Lindsay from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research note on Friday, October 22nd.

About Lindsay

Lindsay Corp. provides proprietary water management and road infrastructure products and services. It operates its business through the following segments: Irrigation and Infrastructure. The Irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications.

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Earnings History for Lindsay (NYSE:LNN)

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