Lindsay Corp. (NYSE:LNN) – Equities researchers at Gabelli lowered their FY2018 EPS estimates for Lindsay Corp. in a research note issued to investors on Friday. Gabelli analyst J. Garza now forecasts that the firm will post earnings per share of $3.70 for the year, down from their previous estimate of $3.80.
Lindsay Corp. (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 13th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.30. The firm had revenue of $132.90 million for the quarter, compared to analysts’ expectations of $113.38 million. Lindsay Corp. had a net margin of 3.92% and a return on equity of 11.25%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share.
A number of other research analysts have also weighed in on the company. Stifel Nicolaus raised their price objective on Lindsay Corp. from $64.00 to $69.00 and gave the company a “sell” rating in a report on Friday. Zacks Investment Research lowered Lindsay Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday, September 8th. Finally, TheStreet lowered Lindsay Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $72.29.
Shares of Lindsay Corp. (NYSE:LNN) traded up 0.94% on Monday, reaching $78.28. 81,539 shares of the company’s stock traded hands. The firm has a market capitalization of $832.12 million, a P/E ratio of 94.09 and a beta of 0.82. The firm’s 50 day moving average is $72.47 and its 200 day moving average is $71.21. Lindsay Corp. has a 52 week low of $62.99 and a 52 week high of $80.28.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.16 annualized dividend and a yield of 1.50%. Lindsay Corp.’s dividend payout ratio (DPR) is currently 61.70%.
A number of hedge funds have recently modified their holdings of LNN. Teacher Retirement System of Texas raised its stake in shares of Lindsay Corp. by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,584 shares of the company’s stock valued at $107,000 after buying an additional 186 shares during the period. Mason Street Advisors LLC bought a new stake in shares of Lindsay Corp. during the second quarter valued at about $143,000. Legal & General Group Plc raised its stake in shares of Lindsay Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 2,911 shares of the company’s stock valued at $205,000 after buying an additional 84 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Lindsay Corp. during the second quarter valued at about $202,000. Finally, Trexquant Investment LP bought a new stake in shares of Lindsay Corp. during the second quarter valued at about $210,000.
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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