LSI Industries Inc. (NASDAQ:LYTS – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $17.16 and last traded at $17.2910, with a volume of 120,828 shares traded. The stock had previously closed at $17.79.
The construction company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.12). The firm had revenue of $225.85 million during the quarter, compared to the consensus estimate of $225.00 million. LSI Industries had a net margin of 3.28% and a return on equity of 7.51%.
LSI Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, November 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, November 16th. LSI Industries’s payout ratio is 29.85%.
Key LSI Industries News
Here are the key news stories impacting LSI Industries this week:
- Positive Sentiment: Revenue was approximately $225.9 million, slightly ahead of the roughly $225.0 million analyst estimate. Revenue report
- Positive Sentiment: LSI declared a quarterly dividend of $0.05 per share, payable November 24 to shareholders of record November 16. The annualized payout is $0.20, representing a yield of about 1.1%. Dividend announcement
- Neutral Sentiment: One earnings flash reported adjusted EPS of $0.31, in line with its FactSet estimate; reported EPS figures and analyst comparisons differ across the supplied reports. Adjusted EPS report
- Negative Sentiment: Reported EPS was $0.19, below the cited consensus estimate of $0.31 and down from $0.23 a year earlier in the Zacks comparison. That earnings miss may weigh on investor sentiment; LYTS was also near its 52-week low in the supplied trading data. Earnings report
Analyst Ratings Changes
Several analysts recently weighed in on the company. Morgan Stanley set a $30.00 target price on LSI Industries in a research note on Friday, August 21st. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of LSI Industries in a research note on Friday, October 2nd. Oppenheimer cut their price target on shares of LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, August 21st. Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. Finally, Wall Street Zen raised LSI Industries from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.
Check Out Our Latest Research Report on LSI Industries
Insider Buying and Selling at LSI Industries
In other LSI Industries news, Director Ernest W. Marshall, Jr. bought 2,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was bought at an average price of $19.73 per share, for a total transaction of $39,460.00. Following the transaction, the director owned 28,643 shares of the company’s stock, valued at approximately $565,126.39. The trade was a 7.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Clark sold 23,706 shares of LSI Industries stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $20.09, for a total value of $476,253.54. Following the sale, the chief executive officer directly owned 609,641 shares of the company’s stock, valued at approximately $12,247,687.69. This trade represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 96,345 shares of company stock valued at $1,928,267 in the last three months. Insiders own 4.70% of the company’s stock.
Institutional Investors Weigh In On LSI Industries
Several hedge funds have recently bought and sold shares of LYTS. North Star Investment Management Corp. raised its stake in shares of LSI Industries by 0.9% in the 3rd quarter. North Star Investment Management Corp. now owns 185,193 shares of the construction company’s stock valued at $3,843,000 after purchasing an additional 1,730 shares during the period. Annex Advisory Services LLC increased its stake in shares of LSI Industries by 11.9% during the 3rd quarter. Annex Advisory Services LLC now owns 97,958 shares of the construction company’s stock worth $2,033,000 after purchasing an additional 10,431 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of LSI Industries in the second quarter valued at approximately $242,000. Ameritas Advisory Services LLC bought a new position in LSI Industries during the second quarter worth $31,000. Finally, AXQ Capital LP boosted its holdings in shares of LSI Industries by 117.7% during the 2nd quarter. AXQ Capital LP now owns 24,007 shares of the construction company’s stock worth $638,000 after buying an additional 12,979 shares during the period. 73.91% of the stock is currently owned by institutional investors and hedge funds.
LSI Industries Trading Down 3.8%
The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.97. The business has a fifty day simple moving average of $20.31 and a 200 day simple moving average of $22.00. The stock has a market capitalization of $638.25 million, a price-to-earnings ratio of 25.55 and a beta of 0.54.
LSI Industries Company Profile
LSI Industries Inc (NASDAQ: LYTS) designs and manufactures commercial lighting and display solutions for businesses and organizations. Its offerings include indoor and outdoor LED lighting, lighting controls, digital signage, visual display systems, and related graphics and branding products.
The company serves a range of markets, including petroleum and convenience stores, quick-service restaurants, automotive dealerships, grocery and retail locations, sports facilities, and other commercial and industrial environments.
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