Lindsay (NYSE:LNN) Releases Quarterly Earnings Results

Lindsay (NYSE:LNN) released its quarterly earnings data on Thursday. The industrial products company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.14 by $0.39, RTT News reports. The firm had revenue of $160.76 million for the quarter, compared to the consensus estimate of $157.80 million. Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 earnings per share.

Lindsay Trading Down 1.8%

Shares of Lindsay stock opened at $121.56 on Thursday. The firm has a 50-day moving average of $112.94 and a 200-day moving average of $119.42. The stock has a market cap of $1.26 billion, a PE ratio of 22.26 and a beta of 0.69. Lindsay has a 52-week low of $97.27 and a 52-week high of $149.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 3.02.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LNN shares. Weiss Ratings cut shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Stifel Nicolaus decreased their price target on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, Zacks Research raised shares of Lindsay from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Lindsay has an average rating of “Hold” and a consensus target price of $113.00.

Institutional Trading of Lindsay

Several hedge funds and other institutional investors have recently bought and sold shares of LNN. iSAM Funds UK Ltd bought a new position in shares of Lindsay during the third quarter worth approximately $323,000. XTX Topco Ltd bought a new stake in shares of Lindsay in the fourth quarter valued at approximately $249,000. Blair William & Co. IL bought a new stake in shares of Lindsay in the fourth quarter valued at approximately $244,000. Van ECK Associates Corp grew its position in Lindsay by 11.3% during the third quarter. Van ECK Associates Corp now owns 1,739 shares of the industrial products company’s stock worth $244,000 after buying an additional 177 shares in the last quarter. Finally, Creative Planning acquired a new stake in Lindsay during the second quarter worth approximately $227,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Company Profile

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.