Lindsay (NYSE:LNN) Releases Earnings Results, Beats Estimates By $0.12 EPS

by · The Markets Daily

Lindsay (NYSE:LNN – Get Free Report) posted its quarterly earnings data on Thursday. The industrial products company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12, Zacks reports. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share.

Lindsay Stock Up 2.6%

Shares of NYSE:LNN traded up $2.77 during midday trading on Thursday, hitting $109.36. 59,383 shares of the company’s stock traded hands, compared to its average volume of 153,753. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.04 and a current ratio of 2.93. The company has a market cap of $1.11 billion, a PE ratio of 20.99 and a beta of 0.69. The firm’s fifty day moving average price is $115.00 and its two-hundred day moving average price is $113.65. Lindsay has a twelve month low of $97.27 and a twelve month high of $148.00.

Analyst Ratings Changes

Several research firms recently issued reports on LNN. Weiss Ratings cut shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 16th. Zacks Research raised shares of Lindsay from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 30th. Finally, Stifel Nicolaus set a $121.00 price target on shares of Lindsay in a research note on Thursday, September 24th. Three analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Lindsay has a consensus rating of “Hold” and an average target price of $121.00.

View Our Latest Analysis on LNN

About Lindsay

(Get Free Report)

Lindsay Corporation is a U.S.-based manufacturer of irrigation and infrastructure products. The company’s irrigation business provides center-pivot and lateral-move irrigation systems, water-management technologies, and related equipment used by agricultural producers to improve the application and conservation of water.

Lindsay’s irrigation portfolio includes Zimmatic irrigation systems and digital tools such as FieldNET, which helps growers monitor and manage irrigation operations remotely.

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