Lindsay (NYSE:LNN) Releases Earnings Results

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

Lindsay Price Performance

NYSE:LNN opened at $119.75 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72. The stock has a 50 day moving average of $131.04 and a two-hundred day moving average of $126.98. Lindsay has a 12 month low of $109.27 and a 12 month high of $140.27. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.20%. Lindsay’s payout ratio is 23.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LNN shares. Stifel Nicolaus increased their price target on shares of Lindsay from $130.00 to $134.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Thursday.

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.