Somewhat Positive Press Coverage Somewhat Unlikely to Impact Lindsay Corporation (LNN) Stock Price
News stories about Lindsay Corporation (NYSE:LNN) have been trending somewhat positive on Sunday, Accern Sentiment reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Lindsay Corporation earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned media headlines about the industrial products company an impact score of 44.8595836414951 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- Why Should You Hold on to Lindsay (LNN) Stock Right Now? (finance.yahoo.com)
- Lindsay Corporation (LNN) Given Average Rating of “Hold” by Analysts (americanbankingnews.com)
- Lindsay Corp. breached its 50 day moving average in a Bullish Manner : LNN-US : September 18, 2017 (finance.yahoo.com)
- Barings Provides Financing for Lindsay Goldberg Acquisition of Golden West Packaging (feeds.benzinga.com)
Several equities research analysts recently weighed in on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $80.00 price objective on shares of Lindsay Corporation in a report on Sunday, September 10th. BidaskClub downgraded Lindsay Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus set a $76.00 target price on Lindsay Corporation and gave the stock a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Monday, July 31st. Finally, Sidoti restated a “buy” rating and issued a $107.00 target price (up previously from $100.00) on shares of Lindsay Corporation in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $91.50.
Lindsay Corporation (NYSE:LNN) opened at 90.50 on Friday. Lindsay Corporation has a 52 week low of $69.11 and a 52 week high of $95.04. The firm has a 50-day moving average price of $87.44 and a 200 day moving average price of $86.44. The company has a market cap of $967.35 million, a P/E ratio of 39.21 and a beta of 0.46.
Lindsay Corporation (NYSE:LNN) last issued its quarterly earnings results on Thursday, June 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. The business had revenue of $151.50 million during the quarter, compared to analysts’ expectations of $145.30 million. Lindsay Corporation had a return on equity of 9.69% and a net margin of 4.75%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. Analysts expect that Lindsay Corporation will post $2.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were given a $0.30 dividend. This is a boost from Lindsay Corporation’s previous quarterly dividend of $0.29. The ex-dividend date was Tuesday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. Lindsay Corporation’s dividend payout ratio is presently 52.17%.
In other Lindsay Corporation news, insider David B. Downing sold 7,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $89.28, for a total value of $624,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rick Parod sold 77,387 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $91.47, for a total value of $7,078,588.89. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
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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