Wall Street brokerages expect Lindsay Corporation (NYSE:LNN) to post earnings per share of $0.65 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Lindsay Corporation’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.75. Lindsay Corporation posted earnings per share of $0.73 in the same quarter last year, which would suggest a negative year over year growth rate of 11%. The company is scheduled to report its next quarterly earnings report on Thursday, October 12th.
According to Zacks, analysts expect that Lindsay Corporation will report full year earnings of $2.26 per share for the current financial year, with EPS estimates ranging from $2.19 to $2.40. For the next year, analysts anticipate that the firm will report earnings of $3.06 per share, with EPS estimates ranging from $2.75 to $3.30. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Lindsay Corporation.
Lindsay Corporation (NYSE:LNN) last announced its earnings results on Thursday, June 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. Lindsay Corporation had a net margin of 4.75% and a return on equity of 9.69%. The business had revenue of $151.50 million during the quarter, compared to the consensus estimate of $145.30 million. During the same quarter last year, the firm earned $0.90 earnings per share. Lindsay Corporation’s quarterly revenue was up 7.2% on a year-over-year basis.
LNN has been the subject of several research reports. BidaskClub lowered shares of Lindsay Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research lowered shares of Lindsay Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Boenning Scattergood restated a “hold” rating on shares of Lindsay Corporation in a report on Thursday, June 29th. Sidoti restated a “buy” rating and issued a $107.00 price objective (up from $100.00) on shares of Lindsay Corporation in a report on Friday, July 7th. Finally, Piper Jaffray Companies upped their price objective on shares of Lindsay Corporation from $77.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, July 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Lindsay Corporation currently has a consensus rating of “Hold” and a consensus price target of $91.50.
In related news, insider David B. Downing sold 7,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $89.28, for a total value of $624,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Lindsay Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,170 shares of the industrial products company’s stock valued at $103,000 after buying an additional 20 shares during the last quarter. US Bancorp DE raised its position in shares of Lindsay Corporation by 100.0% in the first quarter. US Bancorp DE now owns 1,800 shares of the industrial products company’s stock valued at $159,000 after buying an additional 900 shares during the last quarter. Suffolk Capital Management LLC acquired a new position in shares of Lindsay Corporation during the first quarter valued at about $474,000. BlackRock Inc. raised its position in shares of Lindsay Corporation by 7,401.9% in the first quarter. BlackRock Inc. now owns 1,325,961 shares of the industrial products company’s stock valued at $116,844,000 after buying an additional 1,308,286 shares during the last quarter. Finally, Invictus RG acquired a new position in shares of Lindsay Corporation during the first quarter valued at about $290,000.
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Lindsay Corporation (NYSE LNN) opened at 90.36 on Wednesday. Lindsay Corporation has a 52 week low of $69.11 and a 52 week high of $95.04. The company’s 50-day moving average is $89.60 and its 200-day moving average is $84.16. The company has a market cap of $965.86 million, a P/E ratio of 39.15 and a beta of 0.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.33%. This is a positive change from Lindsay Corporation’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, August 15th. Lindsay Corporation’s dividend payout ratio (DPR) is presently 50.43%.
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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