Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of irrigation company Lindsay (NYS: LNN) saw its shares fall as much as 10% today after reporting earnings.
So what: Fiscal fourth-quarter revenue rose 10% to $127.8 million, in line with estimates. Net income grew 49% to $8.8 billion, or $0.68 per share, which was seven cents behind estimates. Investors are clearly focused on the earnings miss today.
Now what: It's important to keep in mind that revenue and earnings are growing at a nice clip even if they didn't hit expectations. The company also increased its backlog to $57.1 million from $44.5 million at the end of last quarter. Lindsay doesn't pay a high enough dividend or have a strong enough value at a 17.3 forward P/E ratio for me to jump in today, but if the stock continues to fall in coming weeks it will be worth another look.
Interested in more info on Lindsay Corporation? Add it to your watchlist by clicking here.
The article Why Lindsay's Shares Dropped originally appeared on Fool.com.
Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.