Lindsay (NYSE:LNN) Posts Quarterly Earnings Results, Beats Estimates By $0.55 EPS

Lindsay (NYSE:LNN) released its quarterly earnings results on Thursday. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.55, RTT News reports. The company had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share.

Lindsay Stock Up 1.9 %

LNN stock opened at $130.05 on Thursday. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. Lindsay has a twelve month low of $109.27 and a twelve month high of $140.27. The business’s 50-day moving average price is $131.61 and its 200-day moving average price is $126.99. The stock has a market cap of $1.41 billion, a P/E ratio of 20.87 and a beta of 0.70.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.11%. Lindsay’s dividend payout ratio is currently 23.11%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LNN. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Stifel Nicolaus upped their target price on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th.

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.