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

LSI Industries Inc. (NASDAQ:LYTS)’s share price dropped 7.7% on Friday following a dissappointing earnings announcement. The stock traded as low as $22.94 and last traded at $22.83. Approximately 82,511 shares traded hands during mid-day 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 EPS for the quarter, missing the consensus estimate 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price objective on LSI Industries from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday.

Hedge Funds Weigh In On LSI Industries

Several hedge funds and other institutional investors have recently modified their holdings of LYTS. Quarry LP bought a new stake in shares of LSI Industries during the 3rd quarter valued at $39,000. Fortitude Family Office LLC raised its holdings in shares of LSI Industries by 1,559.9% in the 4th quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company’s stock valued at $62,000 after purchasing an additional 2,995 shares during the period. SG Americas Securities LLC bought a new position in shares of LSI Industries in the third quarter valued at about $183,000. Squarepoint Ops LLC bought a new position in LSI Industries in the 2nd quarter valued at about $191,000. Finally, Y Intercept Hong Kong Ltd bought a new position in LSI Industries during the 3rd quarter worth $205,000. Institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Performance

The stock’s 50-day moving average price is $19.74 and its 200-day moving average price is $17.29. The company has a market cap of $685.87 million, a P/E ratio of 28.89 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.08 and a quick ratio of 1.19.

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.