Lindsay (NYSE:LNN) Announces Earnings Results

Lindsay (NYSE:LNN) issued its quarterly earnings results on Thursday. The industrial products company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.39, RTT News reports. Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The company had revenue of $160.76 million during the quarter, compared to analysts’ expectations of $157.80 million. During the same period last year, the business earned $1.78 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis.

Lindsay Stock Down 1.8%

LNN stock opened at $121.56 on Thursday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 22.26 and a beta of 0.69. Lindsay has a twelve month low of $97.27 and a twelve month high of $149.16. The business has a 50 day moving average price of $112.94 and a two-hundred day moving average price of $119.42. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

Several research analysts recently commented on LNN shares. Stifel Nicolaus reduced their target price on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a report on Monday, April 6th. Weiss Ratings lowered shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Finally, Zacks Research upgraded shares of Lindsay from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Lindsay presently has a consensus rating of “Hold” and an average target price of $113.00.

Institutional Investors Weigh In On Lindsay

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in Lindsay during the fourth quarter worth $25,000. Advisory Services Network LLC acquired a new stake in Lindsay in the third quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in Lindsay in the fourth quarter valued at $83,000. Russell Investments Group Ltd. lifted its stake in Lindsay by 2,226.8% in the third quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 913 shares during the last quarter. Finally, State of Wyoming grew its position in shares of Lindsay by 196.4% in the 2nd quarter. State of Wyoming now owns 1,227 shares of the industrial products company’s stock valued at $177,000 after acquiring an additional 813 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.