Lindsay (NYSE:LNN) Releases Earnings Results, Beats Estimates By $0.55 EPS

Lindsay (NYSE:LNN) issued its quarterly earnings data on Thursday. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.55, RTT News reports. The company had revenue of $187.10 million for the quarter, compared to analysts’ expectations of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. Lindsay’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share.

Lindsay Stock Performance

Shares of LNN opened at $130.05 on Thursday. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The firm’s fifty day simple moving average is $131.61 and its two-hundred day simple moving average is $126.99. Lindsay has a 12 month low of $109.27 and a 12 month high of $140.27. The stock has a market capitalization of $1.41 billion, a P/E ratio of 20.87 and a beta of 0.70.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.36 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.44 annualized dividend and a yield of 1.11%. Lindsay’s payout ratio is 23.11%.

Analyst Ratings Changes

LNN has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.