Lindsay (NYSE:LNN) Issues Quarterly Earnings Results

Lindsay (NYSE:LNN) issued its earnings results on Thursday. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12, Zacks reports. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. During the same period in the previous year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis.

Lindsay Price Performance

Shares of NYSE LNN traded up $4.38 during trading on Thursday, reaching $110.97. The company had a trading volume of 50,236 shares, compared to its average volume of 153,636. Lindsay has a twelve month low of $97.27 and a twelve month high of $148.00. The stock has a market capitalization of $1.13 billion, a PE ratio of 21.30 and a beta of 0.69. The stock has a 50-day moving average price of $115.00 and a two-hundred day moving average price of $113.65. The company has a current ratio of 2.93, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

Several brokerages have recently commented on LNN. Zacks Research raised Lindsay from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 30th. Stifel Nicolaus set a $121.00 price objective on Lindsay in a research note on Thursday, September 24th. Finally, Weiss Ratings downgraded Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 16th. Three research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $121.00.

About Lindsay

Lindsay Corporation is a U.S.-based manufacturer of irrigation and infrastructure products. The company’s irrigation business provides center-pivot and lateral-move irrigation systems, water-management technologies, and related equipment used by agricultural producers to improve the application and conservation of water.

Lindsay’s irrigation portfolio includes Zimmatic irrigation systems and digital tools such as FieldNET, which helps growers monitor and manage irrigation operations remotely.