FY2018 Earnings Forecast for Lindsay Corp. Issued By Gabelli (LNN)
Lindsay Corp. (NYSE:LNN) – Investment analysts at Gabelli dropped their FY2018 earnings estimates for Lindsay Corp. in a report released on Friday. Gabelli analyst J. Garza now expects that the brokerage will post earnings per share of $3.70 for the year, down from their previous forecast of $3.80.
A number of other analysts have also commented on LNN. TheStreet raised Lindsay Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 1st. Zacks Investment Research lowered Lindsay Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Finally, Stifel Nicolaus lifted their target price on Lindsay Corp. from $64.00 to $69.00 and gave the stock a “sell” rating in a report on Friday, October 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Lindsay Corp. currently has a consensus rating of “Hold” and a consensus price target of $72.29.
Lindsay Corp. (NYSE:LNN) traded down 0.50% during mid-day trading on Monday, hitting $78.01. The company had a trading volume of 129,957 shares. Lindsay Corp. has a 52 week low of $62.99 and a 52 week high of $80.28. The company has a market capitalization of $829.25 million, a price-to-earnings ratio of 93.76 and a beta of 0.82. The firm’s 50 day moving average is $72.62 and its 200 day moving average is $71.27.
Lindsay Corp. (NYSE:LNN) last released its quarterly earnings data on Thursday, October 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.30. Lindsay Corp. had a return on equity of 11.25% and a net margin of 3.92%. The company had revenue of $132.90 million for the quarter, compared to analyst estimates of $113.38 million. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year.
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 paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.49%. Lindsay Corp.’s dividend payout ratio (DPR) is currently 61.70%.
Several institutional investors have recently added to or reduced their stakes in LNN. Teacher Retirement System of Texas increased its position in Lindsay Corp. by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,584 shares of the company’s stock worth $107,000 after buying an additional 186 shares during the period. Mason Street Advisors LLC bought a new position in Lindsay Corp. during the second quarter valued at $143,000. Cubist Systematic Strategies LLC bought a new position in Lindsay Corp. during the second quarter valued at $202,000. Legal & General Group Plc increased its position in 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. Finally, Trexquant Investment LP bought a new position in Lindsay Corp. during the second quarter valued at $210,000.
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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