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

LSI Industries Inc. (NASDAQ:LYTS) fell 7.7% during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $22.94 and last traded at $22.83. 82,511 shares were traded 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.87%. LSI Industries’s payout ratio is 25.32%.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their price target on shares of LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LYTS. Connor Clark & Lunn Investment Management Ltd. boosted its position in LSI Industries by 0.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,171 shares of the construction company’s stock worth $2,345,000 after acquiring an additional 494 shares during the period. Wedge Capital Management L L P NC boosted its position in LSI Industries by 0.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 85,140 shares of the construction company’s stock worth $1,375,000 after acquiring an additional 740 shares during the period. Martingale Asset Management L P boosted its position in LSI Industries by 1.4% during the 3rd quarter. Martingale Asset Management L P now owns 82,256 shares of the construction company’s stock worth $1,328,000 after acquiring an additional 1,102 shares during the period. Essex Investment Management Co. LLC boosted its position in LSI Industries by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 306,397 shares of the construction company’s stock worth $4,948,000 after acquiring an additional 1,111 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in LSI Industries by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,911 shares of the construction company’s stock worth $758,000 after acquiring an additional 1,535 shares during the period. 73.91% of the stock is currently owned by institutional investors.

LSI Industries Stock Down 7.0 %

The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $19.74 and a 200-day simple moving average of $17.29. The company has a market cap of $685.87 million, a price-to-earnings ratio of 28.89 and a beta of 0.93.

LSI Industries Company Profile

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.