Lindsay (LNN) Posts Earnings Results, Misses Estimates By $0.06 EPS

Lindsay (NYSE:LNN) posted its quarterly earnings results on Thursday. The industrial products company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06), Bloomberg Earnings reports. Lindsay had a return on equity of 8.95% and a net margin of 4.47%. The company had revenue of $124.53 million during the quarter, compared to the consensus estimate of $117.11 million. During the same period in the previous year, the business earned $0.08 earnings per share. Lindsay’s revenue was up 12.8% on a year-over-year basis.

Shares of Lindsay (NYSE:LNN) opened at $91.81 on Thursday. The stock has a market capitalization of $970.22, a price-to-earnings ratio of 41.99, a P/E/G ratio of 2.06 and a beta of 0.50. Lindsay has a 52 week low of $72.85 and a 52 week high of $96.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.25 and a current ratio of 3.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, February 13th. Lindsay’s dividend payout ratio is 55.56%.

A number of equities analysts have recently commented on LNN shares. BidaskClub lowered Lindsay from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay in a report on Thursday, October 12th. TheStreet lowered Lindsay from a “b” rating to a “c+” rating in a report on Thursday, October 12th. Piper Jaffray Companies reissued a “hold” rating and set a $80.00 price objective on shares of Lindsay in a research note on Sunday, September 10th. Finally, Stifel Nicolaus lifted their price objective on Lindsay from $76.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $95.25.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LNN. Flinton Capital Management LLC raised its position in Lindsay by 72.7% during the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after purchasing an additional 544 shares in the last quarter. Acrospire Investment Management LLC raised its position in Lindsay by 467.1% during the second quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 1,177 shares in the last quarter. Van ECK Associates Corp raised its position in Lindsay by 27.2% during the second quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 362 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Lindsay during the second quarter valued at about $205,000. Finally, OxFORD Asset Management LLP purchased a new stake in Lindsay during the second quarter valued at about $219,000. Institutional investors and hedge funds own 94.23% of the company’s stock.

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Lindsay Company Profile

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

Earnings History for Lindsay (NYSE:LNN)

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