LSI Industries (NASDAQ:LYTS) Shares Down 7.7% Following Weak Earnings

LSI Industries Inc. (NASDAQ:LYTSGet Free Report)’s stock price fell 7.7% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $22.94 and last traded at $22.83. 82,511 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 160,537 shares. The stock had previously closed at $24.72.

The construction company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). LSI Industries had a return on equity of 11.71% and a net margin of 4.88%.

LSI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, February 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.91%. LSI Industries’s dividend payout ratio is currently 25.32%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LYTS shares. HC Wainwright upped their target price on shares of LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group upped their target price on shares of LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday.

Check Out Our Latest Stock Analysis on LYTS

Hedge Funds Weigh In On LSI Industries

Hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of LSI Industries in the third quarter worth approximately $39,000. Fortitude Family Office LLC boosted its position in shares of LSI Industries by 1,559.9% during the fourth quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company’s stock worth $62,000 after acquiring an additional 2,995 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of LSI Industries during the third quarter worth $183,000. Squarepoint Ops LLC bought a new position in shares of LSI Industries during the second quarter worth $191,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of LSI Industries during the third quarter worth $205,000. 73.91% of the stock is currently owned by institutional investors.

LSI Industries Trading Down 10.7 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 2.08 and a quick ratio of 1.19. The stock’s 50-day moving average is $19.87 and its two-hundred day moving average is $17.42. The stock has a market cap of $658.87 million, a P/E ratio of 27.95 and a beta of 0.93.

LSI Industries Company Profile

(Get Free Report)

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.

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