Lindsay Co. (NYSE:LNN – Get Free Report) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $114.24, but opened at $120.00. Lindsay shares last traded at $131.31, with a volume of 27,686 shares changing hands.
The industrial products company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.13. Lindsay had a return on equity of 14.41% and a net margin of 11.75%. The firm had revenue of $155.00 million for the quarter, compared to the consensus estimate of $145.37 million. During the same quarter in the previous year, the business earned $1.74 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis.
Lindsay Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.19%. Lindsay’s payout ratio is currently 21.85%.
Institutional Investors Weigh In On Lindsay
Lindsay Stock Performance
The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 3.95. The firm has a 50 day moving average of $120.91 and a 200-day moving average of $118.50. The stock has a market capitalization of $1.32 billion, a PE ratio of 18.44 and a beta of 0.61.
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.
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