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

LSI Industries (NASDAQ:LYTS) posted its earnings results on Friday, November 7th. The construction company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01, Zacks reports. The company had revenue of $157.25 million for the quarter, compared to the consensus estimate of $149.48 million. LSI Industries had a return on equity of 10.96% and a net margin of 4.21%.

LSI Industries Stock Up 0.8%

LYTS traded up $0.15 on Thursday, reaching $18.66. The company’s stock had a trading volume of 64,876 shares, compared to its average volume of 157,119. The stock has a 50 day moving average of $21.11 and a two-hundred day moving average of $19.64. The company has a quick ratio of 1.36, a current ratio of 2.19 and a debt-to-equity ratio of 0.20. LSI Industries has a fifty-two week low of $13.77 and a fifty-two week high of $25.50. The company has a market capitalization of $579.98 million, a price-to-earnings ratio of 23.32 and a beta of 0.19.

LSI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Monday, November 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, November 17th. LSI Industries’s dividend payout ratio is currently 25.00%.

Analysts Set New Price Targets

LYTS has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of LSI Industries in a research report on Monday. Zacks Research upgraded LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Craig Hallum reiterated a “buy” rating and issued a $28.00 target price on shares of LSI Industries in a research note on Friday, August 22nd. Wall Street Zen downgraded shares of LSI Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Canaccord Genuity Group raised their target price on LSI Industries from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 25th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.67.

Insider Activity at LSI Industries

In other LSI Industries news, CFO James E. Galeese sold 54,575 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $23.29, for a total value of $1,271,051.75. Following the sale, the chief financial officer owned 173,288 shares of the company’s stock, valued at $4,035,877.52. This represents a 23.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On LSI Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in LSI Industries during the first quarter valued at approximately $34,000. Quarry LP bought a new stake in shares of LSI Industries during the 3rd quarter worth approximately $55,000. Russell Investments Group Ltd. grew its position in LSI Industries by 711.7% in the third quarter. Russell Investments Group Ltd. now owns 2,703 shares of the construction company’s stock valued at $64,000 after acquiring an additional 2,370 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in LSI Industries in the second quarter valued at approximately $47,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of LSI Industries by 22.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,077 shares of the construction company’s stock valued at $69,000 after acquiring an additional 736 shares in the last quarter. Institutional investors and hedge funds 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.