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

Lindsay (NYSE:LNN) announced its earnings results on Tuesday. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 earnings per share.

Lindsay Price Performance

Shares of NYSE:LNN opened at $119.72 on Wednesday. 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 has a one year low of $109.27 and a one year high of $135.20. The company has a 50-day simple moving average of $125.54 and a 200-day simple moving average of $121.86. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 19.89 and a beta of 0.66.

Lindsay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s dividend payout ratio is currently 23.92%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.