Lindsay (NYSE:LNN) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Lindsay (NYSE:LNN) posted its quarterly earnings results on Thursday. The industrial products company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.08, Zacks reports. The company had revenue of $155.82 million during the quarter, compared to analysts’ expectations of $166.81 million. Lindsay had a return on equity of 14.33% and a net margin of 10.95%.

Lindsay Stock Performance

NYSE:LNN opened at $118.73 on Thursday. The company has a quick ratio of 2.76, a current ratio of 3.71 and a debt-to-equity ratio of 0.22. Lindsay has a twelve month low of $106.10 and a twelve month high of $150.96. The company has a fifty day moving average of $116.36 and a 200-day moving average of $129.87. The firm has a market capitalization of $1.26 billion, a P/E ratio of 17.51 and a beta of 0.80.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.2%. Lindsay’s dividend payout ratio (DPR) is 21.83%.

Institutional Investors Weigh In On Lindsay

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP raised its position in shares of Lindsay by 65.1% during the second quarter. Engineers Gate Manager LP now owns 4,507 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 1,777 shares during the period. Mariner LLC increased its stake in Lindsay by 46.6% during the 3rd quarter. Mariner LLC now owns 2,788 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 886 shares in the last quarter. Creative Planning raised its holdings in Lindsay by 49.2% during the third quarter. Creative Planning now owns 2,351 shares of the industrial products company’s stock worth $330,000 after buying an additional 775 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in Lindsay during the third quarter worth $323,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Lindsay in the third quarter valued at $316,000. 89.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LNN. Wall Street Zen cut Lindsay from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Stifel Nicolaus set a $122.00 target price on shares of Lindsay in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lindsay in a report on Friday, October 31st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $122.00.

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.