Lindsay (NYSE:LNN) Posts Quarterly Earnings Results, Misses Expectations By $0.45 EPS

Lindsay (NYSE:LNN) announced its quarterly earnings results on Thursday. The industrial products company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.45), RTT News reports. Lindsay had a net margin of 11.02% and a return on equity of 14.01%. During the same period in the prior year, the firm posted $2.44 earnings per share. The business’s revenue was down 15.7% on a year-over-year basis.

Lindsay Stock Down 6.4%

Shares of NYSE LNN traded down $7.49 during mid-day trading on Thursday, reaching $109.66. 90,121 shares of the company traded hands, compared to its average volume of 116,233. The company’s fifty day moving average is $127.63 and its two-hundred day moving average is $124.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.43 and a current ratio of 3.42. Lindsay has a fifty-two week low of $105.07 and a fifty-two week high of $150.96. The stock has a market cap of $1.15 billion, a PE ratio of 16.31 and a beta of 0.79.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. Lindsay’s dividend payout ratio is currently 21.93%.

Hedge Funds Weigh In On Lindsay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in Lindsay by 10.1% during the fourth quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company’s stock valued at $26,732,000 after purchasing an additional 20,811 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Lindsay by 106.8% during the 4th quarter. Corient Private Wealth LLC now owns 8,854 shares of the industrial products company’s stock worth $1,044,000 after buying an additional 4,573 shares during the period. State of Tennessee Department of Treasury boosted its holdings in shares of Lindsay by 4.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 6,979 shares of the industrial products company’s stock worth $874,000 after buying an additional 310 shares during the period. XTX Topco Ltd acquired a new position in Lindsay in the 4th quarter valued at $249,000. Finally, Wellington Management Group LLP acquired a new position in Lindsay in the 4th quarter valued at $13,994,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their price objective on shares of Lindsay from $122.00 to $128.00 and gave the company a “hold” rating in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $128.00.

About Lindsay

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.