Lindsay Corporation (NYSE:LNN) – Equities researchers at Gabelli decreased their FY2018 earnings per share (EPS) estimates for shares of Lindsay Corporation in a report released on Monday. Gabelli analyst J. Garza now expects that the industrial products company will earn $3.15 per share for the year, down from their prior estimate of $3.30. Gabelli also issued estimates for Lindsay Corporation’s FY2019 earnings at $4.00 EPS, FY2020 earnings at $4.90 EPS and FY2021 earnings at $5.25 EPS.
LNN has been the topic of a number of other reports. TheStreet downgraded Lindsay Corporation from a “b” rating to a “c+” rating in a research report on Thursday, October 12th. Boenning Scattergood restated a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, October 12th. Stifel Nicolaus upped their price objective on Lindsay Corporation from $76.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, October 13th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $80.00 target price on shares of Lindsay Corporation in a research note on Sunday, September 10th. Finally, BidaskClub cut Lindsay Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $95.00.
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Lindsay Corporation (LNN) traded up 1.26% during mid-day trading on Tuesday, hitting $91.30. The company’s stock had a trading volume of 37,360 shares. The company’s 50 day moving average is $89.17 and its 200-day moving average is $87.85. The stock has a market cap of $975.91 million, a P/E ratio of 39.56 and a beta of 0.44. Lindsay Corporation has a 52-week low of $72.85 and a 52-week high of $95.04.
Lindsay Corporation (NYSE:LNN) last released its quarterly earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.18. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%. The firm had revenue of $131.94 million for the quarter, compared to analysts’ expectations of $134.83 million.
A number of institutional investors and hedge funds have recently made changes to their positions in LNN. US Bancorp DE grew its position in Lindsay Corporation by 100.0% during the 1st quarter. US Bancorp DE now owns 1,800 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 900 shares during the period. Comerica Bank grew its position in Lindsay Corporation by 3.6% during the 1st quarter. Comerica Bank now owns 12,341 shares of the industrial products company’s stock worth $1,089,000 after purchasing an additional 427 shares during the period. Karp Capital Management Corp acquired a new stake in Lindsay Corporation during the 1st quarter worth about $412,000. Ameriprise Financial Inc. grew its position in Lindsay Corporation by 4.6% during the 1st quarter. Ameriprise Financial Inc. now owns 58,037 shares of the industrial products company’s stock worth $5,114,000 after purchasing an additional 2,552 shares during the period. Finally, Mason Street Advisors LLC grew its position in Lindsay Corporation by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 2,486 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 163 shares during the period. 97.44% of the stock is currently owned by institutional investors.
In other Lindsay Corporation news, insider Rick Parod sold 77,387 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $91.47, for a total transaction of $7,078,588.89. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.10% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. Lindsay Corporation’s dividend payout ratio (DPR) is 55.56%.
About Lindsay Corporation
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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