LSI Industries (NASDAQ:LYTS) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

LSI Industries (NASDAQ:LYTS) released its quarterly earnings results on Thursday. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09, Zacks reports. LSI Industries had a net margin of 4.25% and a return on equity of 11.25%. The firm had revenue of $155.07 million during the quarter, compared to the consensus estimate of $138.89 million.

LSI Industries Price Performance

Shares of NASDAQ LYTS opened at $23.66 on Friday. The firm’s 50-day moving average price is $17.98 and its 200-day moving average price is $17.38. LSI Industries has a 1-year low of $13.77 and a 1-year high of $25.50. The firm has a market capitalization of $707.91 million, a P/E ratio of 29.95 and a beta of 0.32. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24.

LSI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. LSI Industries’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

LYTS has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of LSI Industries in a research note on Friday, April 25th. Canaccord Genuity Group lowered their target price on shares of LSI Industries from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of LSI Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $26.00.

Hedge Funds Weigh In On LSI Industries

Institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of LSI Industries during the first quarter valued at about $34,000. EverSource Wealth Advisors LLC acquired a new position in shares of LSI Industries during the second quarter valued at about $47,000. BNP Paribas Financial Markets raised its holdings in shares of LSI Industries by 22.0% during the second quarter. BNP Paribas Financial Markets now owns 4,077 shares of the construction company’s stock valued at $69,000 after purchasing an additional 736 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of LSI Industries by 141.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,363 shares of the construction company’s stock valued at $74,000 after purchasing an additional 2,555 shares during the period. Finally, Quantbot Technologies LP raised its holdings in shares of LSI Industries by 133.3% during the second quarter. Quantbot Technologies LP now owns 5,611 shares of the construction company’s stock valued at $95,000 after purchasing an additional 3,206 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.

About LSI Industries

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.