Lindsay (NYSE:LNN) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Lindsay (NYSE:LNN) released its quarterly earnings results on Tuesday. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18, RTT News reports. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The business had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. During the same period in the prior year, the business earned $1.36 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis.

Lindsay Stock Performance

NYSE:LNN opened at $122.66 on Thursday. The firm’s 50-day moving average is $125.62 and its 200-day moving average is $121.87. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 20.38 and a beta of 0.66. Lindsay has a 52-week low of $109.27 and a 52-week high of $135.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.36 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.44 annualized dividend and a yield of 1.17%. Lindsay’s dividend payout ratio (DPR) is presently 23.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LNN shares. Stifel Nicolaus raised their price objective on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday.

Lindsay Company Profile

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.