Zacks: Analysts Expect LSI Industries Inc. (NASDAQ: LYTS) to Report Quarterly Sales of $105.77 Million
Wall Street brokerages expect LSI Industries Inc. (NASDAQ:LYTS – Get a rating) to show sales of $105.77 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates of LSI Industries earnings, with estimates ranging from $97.50 million to $114.04 million. LSI Industries recorded sales of $97.02 million in the same quarter last year, indicating a positive year-over-year growth rate of 9%. The company is due to announce its next earnings report on Monday, January 1.
According to Zacks, analysts expect LSI Industries to report annual sales of $433.40 million for the current year, with estimates ranging from $425.10 million to $441.69 million. For the next fiscal year, analysts expect the company to post sales of $451.93 million, with estimates ranging from $445.00 million to $458.85 million. Zacks Investment Research sales averages are an average based on a survey of analysts who provide coverage for LSI Industries.
LSI Industries (NASDAQ:LYTS – Get a rating) last released its results on Thursday, April 28. The construction company reported earnings per share (EPS) of $0.15 for the quarter, beating consensus analyst estimates of $0.10 by $0.05. LSI Industries achieved a net margin of 2.37% and a return on equity of 9.89%. The company posted revenue of $110.11 million in the quarter, versus a consensus estimate of $94.18 million. During the same period a year earlier, the company posted earnings per share of $0.06.
LYTS has been the subject of several analyst reports. StockNews.com raised shares of LSI Industries from a “buy” rating to a “strong buy” rating in a research note on Wednesday. TheStreet upgraded LSI Industries from a “c+” rating to a “b-” rating in a Tuesday, May 10 research report. Canaccord Genuity Group raised its price target on LSI Industries from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, January 28. Zacks Investment Research upgraded LSI Industries from a “hold” rating to a “buy” rating and set a target price of $8.50 on the stock in a research report on Friday, May 6. Finally, HC Wainwright reissued a “buy” rating on LSI Industries shares in a Friday, January 28 report. Five analysts rated the stock with a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.75.
A number of institutional investors and hedge funds have been buying and selling stocks recently. Morgan Stanley increased its stake in LSI Industries by 249.1% in the second quarter. Morgan Stanley now owns 25,939 shares of the construction company worth $207,000 after buying 18,508 more shares last quarter. Citadel Advisors LLC increased its equity stake in LSI Industries by 415.6% in the second quarter. Citadel Advisors LLC now owns 89,186 shares of the construction company valued at $714,000 after purchasing an additional 71,890 shares in the last quarter. Raymond James & Associates increased its position in LSI Industries by 7.8% during the third quarter. Raymond James & Associates now owns 27,522 shares of the construction company worth $213,000 after buying 2,000 more shares last quarter. Russell Investments Group Ltd. increased its stake in LSI Industries by 29.1% during the third quarter. Russell Investments Group Ltd. now owns 24,470 shares of the construction company worth $189,000 after purchasing an additional 5,509 shares in the last quarter. Finally, Barclays PLC increased its stake in LSI Industries by 48.4% in the 3rd quarter. Barclays PLC now owns 16,898 shares in the construction company valued at $131,000 after buying a further 5,513 shares last quarter. Hedge funds and other institutional investors hold 63.96% of the company’s shares.
Shares of NASDAQ:LYTS opened at $6.75 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.07 and a debt ratio of 0.58. LSI Industries has a 12-month low of $5.71 and a 12-month high of $9.81. The company has a 50-day moving average of $6.43 and a 200-day moving average of $6.79. The company has a market capitalization of $179.96 million, a PE ratio of 18.75, a PEG ratio of 0.60 and a beta of 1.34.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 17. Shareholders of record on Monday, May 9 received a dividend of $0.05. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, May 6. LSI Industries’ dividend payout ratio (DPR) is 55.56%.
About LSI Industries (Get a rating)
LSI Industries Inc manufactures and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, Australia and Latin America. It operates in two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets and sells non-residential exterior and interior lighting solutions.
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