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

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

Lindsay Stock Performance

Shares of NYSE:LNN opened at $122.66 on Thursday. The company’s 50 day moving average price is $125.62 and its two-hundred day moving average price is $121.87. Lindsay has a 12-month low of $109.27 and a 12-month high of $135.20. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.33 billion, a PE ratio of 20.38 and a beta of 0.66.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s dividend payout ratio is 23.11%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LNN shares. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday.

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.