LSI Industries (NASDAQ:LYTS) Trading Down 7.7% on Disappointing Earnings

LSI Industries Inc. (NASDAQ:LYTS)’s stock price dropped 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. Approximately 82,511 shares were traded during trading, a decline of 49% from the average daily volume of 160,537 shares. The stock had previously closed at $24.72.

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

LSI Industries Dividend Announcement

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

Analyst Ratings Changes

LYTS has been the subject of a number of recent research reports. HC Wainwright boosted their target price on LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group boosted their price objective on LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Friday.

Institutional Investors Weigh In On LSI Industries

A number of large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of LSI Industries by 0.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,171 shares of the construction company’s stock worth $2,345,000 after purchasing an additional 494 shares during the period. Wedge Capital Management L L P NC raised 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 valued at $1,375,000 after purchasing an additional 740 shares during the last quarter. Martingale Asset Management L P lifted its holdings in LSI Industries by 1.4% in the 3rd quarter. Martingale Asset Management L P now owns 82,256 shares of the construction company’s stock worth $1,328,000 after buying an additional 1,102 shares during the period. Essex Investment Management Co. LLC grew its position in shares of LSI Industries by 0.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 306,397 shares of the construction company’s stock worth $4,948,000 after buying an additional 1,111 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of LSI Industries by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 46,911 shares of the construction company’s stock valued at $758,000 after buying an additional 1,535 shares during the period. Institutional investors own 73.91% of the company’s stock.

LSI Industries Stock 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 has a market capitalization of $658.87 million, a PE ratio of 27.95 and a beta of 0.93. The company has a 50 day moving average price of $19.87 and a 200-day moving average price of $17.40.

About LSI Industries

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.