Lindsay Corp. (NYSE:LNN) posted its earnings results on Thursday. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.43 by $0.30. Lindsay Corp. had a return on equity of 9.74% and a net margin of 1.83%. The firm had revenue of $132.90 million for the quarter.
Lindsay Corp. (NYSE:LNN) opened at 69.30 on Thursday. Lindsay Corp. has a 12 month low of $62.99 and a 12 month high of $79.27. The firm has a market capitalization of $736.66 million, a PE ratio of 83.29 and a beta of 0.82. The stock’s 50 day moving average price is $72.19 and its 200 day moving average price is $71.22.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s dividend payout ratio (DPR) is presently 133.33%.
Several analysts recently commented on the company. TheStreet cut Lindsay Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Zacks Investment Research cut Lindsay Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 8th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Lindsay Corp. currently has an average rating of “Hold” and a consensus price target of $71.57.
A number of large investors have recently added to or reduced their stakes in LNN. Cubist Systematic Strategies LLC bought a new stake in Lindsay Corp. during the second quarter worth $202,000. Paloma Partners Management Co increased its stake in Lindsay Corp. by 29.2% in the second quarter. Paloma Partners Management Co now owns 7,496 shares of the company’s stock worth $508,000 after buying an additional 1,696 shares during the last quarter. ProShare Advisors LLC increased its stake in Lindsay Corp. by 169.5% in the second quarter. ProShare Advisors LLC now owns 27,253 shares of the company’s stock worth $1,849,000 after buying an additional 17,139 shares during the last quarter. Profund Advisors LLC increased its stake in Lindsay Corp. by 5.9% in the second quarter. Profund Advisors LLC now owns 3,152 shares of the company’s stock worth $214,000 after buying an additional 176 shares during the last quarter. Finally, Teachers Advisors Inc. increased its stake in Lindsay Corp. by 2.3% in the second quarter. Teachers Advisors Inc. now owns 21,531 shares of the company’s stock worth $1,461,000 after buying an additional 491 shares during the last quarter.
Lindsay Corp. Company Profile
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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