Equities Analysts Offer Predictions for Lindsay Corp.’s Q1 2017 Earnings (LNN)
Lindsay Corp. (NYSE:LNN) – Research analysts at Boenning Scattergood raised their Q1 2017 earnings 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 prior 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.
LNN has been the subject of a number of other research reports. TheStreet upgraded Lindsay Corp. from a “hold” rating to a “buy” rating in a research report on Friday, July 1st. Zacks Investment Research cut Lindsay Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 8th. Finally, Stifel Nicolaus upped their price target on Lindsay Corp. from $64.00 to $69.00 and gave the stock a “sell” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Lindsay Corp. presently has an average rating of “Hold” and an average price target of $72.29.
Lindsay Corp. (NYSE:LNN) opened at 78.42 on Monday. Lindsay Corp. has a 52 week low of $62.99 and a 52 week high of $80.28. The firm has a 50-day moving average price of $72.38 and a 200-day moving average price of $71.27. The stock has a market capitalization of $833.60 million, a PE ratio of 94.25 and a beta of 0.82.
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Lindsay Corp. (NYSE:LNN) last announced its quarterly earnings results on Thursday, October 13th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.30. The business had revenue of $132.90 million for the quarter, compared to analysts’ expectations of $113.38 million. Lindsay Corp. had a return on equity of 11.25% and a net margin of 3.92%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, November 14th. Lindsay Corp.’s dividend payout ratio is currently 61.70%.
Several hedge funds have recently added to or reduced their stakes in LNN. Teacher Retirement System of Texas raised its position in shares of 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 last quarter. Mason Street Advisors LLC purchased a new position in shares of Lindsay Corp. during the second quarter worth approximately $143,000. Cubist Systematic Strategies LLC purchased a new position in shares of Lindsay Corp. during the second quarter worth approximately $202,000. Legal & General Group Plc raised its position in shares of Lindsay Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 2,911 shares of the company’s stock worth $205,000 after buying an additional 84 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Lindsay Corp. during the second quarter worth approximately $210,000.
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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