LSI Industries (NASDAQ:LYTS) Sets New 12-Month Low After Earnings Miss

LSI Industries Inc. (NASDAQ:LYTS)’s stock price hit a new 52-week low during trading on Friday following a dissappointing earnings announcement. The company traded as low as $17.16 and last traded at $17.2910, with a volume of 120,828 shares changing hands. The stock had previously closed at $17.79.

The construction company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.12). LSI Industries had a net margin of 3.28% and a return on equity of 7.51%. The company had revenue of $225.85 million during the quarter, compared to the consensus estimate of $225.00 million.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 16th. LSI Industries’s payout ratio is currently 29.85%.

More 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

A number of equities analysts have issued reports on the stock. Weiss Ratings downgraded shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. 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. Wall Street Zen raised shares of LSI Industries from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Morgan Stanley set a $30.00 target price on LSI Industries in a research note on Friday, August 21st. Finally, Oppenheimer reduced their price objective on LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Insider Buying and Selling at LSI Industries

In related news, EVP Thomas A. Caneris sold 3,170 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $20.28, for a total transaction of $64,287.60. Following the sale, the executive vice president directly owned 73,109 shares in the company, valued at approximately $1,482,650.52. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James E. Galeese sold 4,778 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $20.28, for a total value of $96,897.84. Following the completion of the transaction, the chief financial officer owned 185,962 shares of the company’s stock, valued at approximately $3,771,309.36. This represents a 2.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 96,345 shares of company stock worth $1,928,267. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LSI Industries

Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its position in shares of LSI Industries by 57.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock valued at $31,000 after purchasing an additional 625 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of LSI Industries during the 2nd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of LSI Industries during the 2nd quarter valued at about $41,000. PenderFund Capital Management Ltd. purchased a new position in shares of LSI Industries during the second quarter worth about $41,000. Finally, New York State Teachers Retirement System grew its holdings in shares of LSI Industries by 28.5% during the first quarter. New York State Teachers Retirement System now owns 2,495 shares of the construction company’s stock worth $46,000 after purchasing an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.97 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $20.31 and its two-hundred day moving average is $22.00. The company has a market capitalization of $638.25 million, a P/E 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.