Lindsay Corp. (NYSE:LNN) – Equities researchers at Boenning Scattergood increased their Q1 2017 earnings per share (EPS) estimates for shares of Lindsay Corp. in a note issued to investors on Thursday. Boenning Scattergood analyst R. Connors now anticipates that the brokerage will earn $0.54 per share for the quarter, up from their previous estimate of $0.51. Boenning Scattergood also issued estimates for Lindsay Corp.’s Q2 2017 earnings at $0.53 EPS, Q3 2017 earnings at $0.87 EPS, Q4 2017 earnings at $0.81 EPS and FY2017 earnings at $2.75 EPS.
A number of other equities 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 “sell” rating in a research report on Tuesday, August 30th. Finally, Stifel Nicolaus upped their price target on shares of Lindsay Corp. from $64.00 to $69.00 and gave the stock a “sell” rating in a research report on Friday, October 14th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $72.29.
Lindsay Corp. (NYSE:LNN) opened at 78.40 on Monday. Lindsay Corp. has a 12-month low of $62.99 and a 12-month high of $80.28. The company has a market cap of $833.39 million, a price-to-earnings ratio of 94.23 and a beta of 0.82. The company’s 50 day moving average is $72.62 and its 200 day moving average is $71.27.
Lindsay Corp. (NYSE:LNN) last released its earnings results on Thursday, October 13th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.30. Lindsay Corp. had a net margin of 3.92% and a return on equity of 11.25%. The company had revenue of $132.90 million for the quarter, compared to analyst estimates of $113.38 million. During the same quarter last year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s payout ratio is 61.70%.
Large investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management increased its stake in Lindsay Corp. by 7.0% in the second quarter. Cardinal Capital Management now owns 4,388 shares of the company’s stock worth $298,000 after buying an additional 288 shares during the last quarter. First Midwest Bank Trust Division increased its stake in Lindsay Corp. by 45.1% in the second quarter. First Midwest Bank Trust Division now owns 4,091 shares of the company’s stock worth $278,000 after buying an additional 1,272 shares during the last quarter. Bank of Montreal Can acquired a new stake in Lindsay Corp. during the second quarter worth about $1,717,000. John G Ullman & Associates Inc. increased its stake in Lindsay Corp. by 7.9% in the second quarter. John G Ullman & Associates Inc. now owns 168,757 shares of the company’s stock worth $11,452,000 after buying an additional 12,375 shares during the last quarter. Finally, Fenimore Asset Management Inc. increased its stake in Lindsay Corp. by 296.7% in the second quarter. Fenimore Asset Management Inc. now owns 106,465 shares of the company’s stock worth $7,225,000 after buying an additional 79,630 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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