Several other analysts have also weighed in on LNN. TheStreet lowered shares of Lindsay Corp. from a buy rating to a hold rating in a research report on Monday, August 15th. Zacks Investment Research lowered shares of Lindsay Corp. from a hold rating to a strong sell rating in a research report on Thursday, September 8th. Three research 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. The stock has a consensus rating of Hold and a consensus target price of $72.29.
Shares of Lindsay Corp. (NYSE:LNN) traded down 0.631% during midday trading on Friday, hitting $77.925. 37,966 shares of the company’s stock traded hands. Lindsay Corp. has a 1-year low of $62.99 and a 1-year high of $80.28. The firm has a market capitalization of $828.34 million, a price-to-earnings ratio of 93.660 and a beta of 0.82. The company has a 50 day moving average price of $72.38 and a 200 day moving average price of $71.27.
Lindsay Corp. (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.30. The company had revenue of $132.90 million for the quarter, compared to analyst estimates of $113.38 million. Lindsay Corp. had a net margin of 3.92% and a return on equity of 11.25%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Equities analysts anticipate that Lindsay Corp. will post $1.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.48%. The ex-dividend date is Monday, November 14th. Lindsay Corp.’s dividend payout ratio is currently 61.70%.
A number of institutional investors have recently made changes to their positions in LNN. Aperio Group LLC increased its position in shares of Lindsay Corp. by 0.4% in the first quarter. Aperio Group LLC now owns 11,196 shares of the company’s stock valued at $802,000 after buying an additional 48 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Lindsay Corp. by 15.8% in the first quarter. Teachers Advisors Inc. now owns 21,040 shares of the company’s stock valued at $1,507,000 after buying an additional 2,867 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Lindsay Corp. by 1.5% in the first quarter. Prudential Financial Inc. now owns 26,776 shares of the company’s stock valued at $1,917,000 after buying an additional 400 shares in the last quarter. BlackRock Inc. increased its position in shares of Lindsay Corp. by 265.9% in the first quarter. BlackRock Inc. now owns 16,374 shares of the company’s stock valued at $1,172,000 after buying an additional 11,899 shares in the last quarter. Finally, Mariner Wealth Advisors LLC purchased a new position in shares of Lindsay Corp. during the first quarter valued at about $353,000.
About Lindsay Corp.
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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