Lindsay (NYSE:LNN) Announces Earnings Results, Beats Expectations By $0.16 EPS

Lindsay (NYSE:LNN) issued its quarterly earnings data on Thursday. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.16, Briefing.com reports. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $145.37 million. Lindsay had a return on equity of 14.41% and a net margin of 11.75%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 earnings per share.

Lindsay Stock Performance

Shares of Lindsay stock traded down $2.46 during trading on Friday, reaching $121.41. The company’s stock had a trading volume of 98,441 shares, compared to its average volume of 89,880. The company has a 50-day moving average price of $120.91 and a two-hundred day moving average price of $118.50. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $135.05. The firm has a market cap of $1.32 billion, a PE ratio of 18.44 and a beta of 0.61. The company has a current ratio of 3.95, a quick ratio of 2.56 and a debt-to-equity ratio of 0.24.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, November 15th. Lindsay’s payout ratio is currently 21.85%.

About Lindsay

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.