LSI Industries (NASDAQ:LYTS) Issues Earnings Results, Beats Estimates By $0.01 EPS

LSI Industries (NASDAQ:LYTS) announced its quarterly earnings data on Thursday. The construction company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01, Zacks reports. LSI Industries had a net margin of 4.25% and a return on equity of 11.07%. The business had revenue of $157.25 million during the quarter, compared to analyst estimates of $149.48 million.

LSI Industries Trading Down 5.9%

Shares of LYTS traded down $1.21 during mid-day trading on Friday, reaching $19.44. 308,575 shares of the company’s stock traded hands, compared to its average volume of 155,130. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.17. The stock’s 50-day moving average is $22.88 and its two-hundred day moving average is $19.32. LSI Industries has a 12 month low of $13.77 and a 12 month high of $25.50. The stock has a market cap of $594.24 million, a P/E ratio of 24.61 and a beta of 0.25.

LSI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, November 17th. LSI Industries’s payout ratio is 25.00%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LYTS shares. Craig Hallum reiterated a “buy” rating and issued a $28.00 price target on shares of LSI Industries in a report on Friday, August 22nd. Canaccord Genuity Group lifted their target price on LSI Industries from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Weiss Ratings upgraded LSI Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Wall Street Zen upgraded LSI Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 24th. Finally, Zacks Research raised LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Insider Activity at LSI Industries

In other news, CFO James E. Galeese sold 54,575 shares of LSI Industries stock in a transaction on Monday, September 8th. The stock was sold at an average price of $23.29, for a total transaction of $1,271,051.75. Following the completion of the sale, the chief financial officer directly owned 173,288 shares in the company, valued at approximately $4,035,877.52. This trade represents a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas A. Caneris sold 7,544 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total transaction of $174,115.52. Following the completion of the transaction, the vice president owned 114,016 shares in the company, valued at approximately $2,631,489.28. The trade was a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 94,780 shares of company stock worth $2,198,983 in the last quarter. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On LSI Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in LSI Industries by 26.7% in the 1st quarter. AQR Capital Management LLC now owns 61,107 shares of the construction company’s stock worth $1,039,000 after acquiring an additional 12,876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of LSI Industries by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,165 shares of the construction company’s stock valued at $292,000 after acquiring an additional 1,113 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of LSI Industries in the first quarter valued at approximately $560,000. Strs Ohio bought a new position in LSI Industries in the first quarter worth approximately $34,000. Finally, Quantbot Technologies LP increased its holdings in LSI Industries by 133.3% during the 2nd quarter. Quantbot Technologies LP now owns 5,611 shares of the construction company’s stock worth $95,000 after purchasing an additional 3,206 shares during the period. Institutional investors own 73.91% of the company’s stock.

About LSI Industries

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.