Lineage (NASDAQ:LINE) Posts Earnings Results, Beats Expectations By $0.12 EPS

Lineage (NASDAQ:LINE - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.12, Zacks reports. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%.

Lineage Trading Up 1.0 %

Shares of NASDAQ LINE traded up $0.59 during midday trading on Friday, hitting $60.25. The company's stock had a trading volume of 3,679,445 shares, compared to its average volume of 983,660. The stock has a fifty day moving average price of $57.74 and a 200 day moving average price of $68.18. Lineage has a one year low of $52.75 and a one year high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Tuesday, December 31st.

Analyst Upgrades and Downgrades

LINE has been the subject of several research reports. Royal Bank of Canada dropped their price objective on shares of Lineage from $94.00 to $81.00 and set an "outperform" rating for the company in a research note on Wednesday, November 13th. Evercore ISI dropped their price target on shares of Lineage from $88.00 to $78.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. downgraded shares of Lineage from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Scotiabank lowered their target price on shares of Lineage from $76.00 to $73.00 and set a "sector outperform" rating for the company in a research note on Monday, February 3rd. Finally, Robert W. Baird reduced their price objective on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.41.

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About Lineage

Lineage, Inc is the world's largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.