Lindsay (NYSE:LNN) Releases Quarterly Earnings Results, Beats Expectations By $0.55 EPS

Lindsay (NYSE:LNN) released its quarterly earnings data on Thursday. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.55, RTT News reports. The company had revenue of $187.10 million during the quarter, compared to analyst estimates of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. Lindsay’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS.

Lindsay Stock Performance

Shares of LNN stock opened at $130.05 on Thursday. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $131.61 and a two-hundred day simple moving average of $126.99. Lindsay has a 12 month low of $109.27 and a 12 month high of $140.27. The firm has a market capitalization of $1.41 billion, a PE ratio of 20.87 and a beta of 0.70.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, February 14th. Lindsay’s payout ratio is currently 23.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LNN shares. Stifel Nicolaus lifted their price target on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It 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 brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.