FY2018 Earnings Forecast for Lindsay Corp. (LNN) Issued By Gabelli
Lindsay Corp. (NYSE:LNN) – Equities researchers at Gabelli cut their FY2018 earnings per share (EPS) estimates for Lindsay Corp. in a research note issued to investors on Friday. Gabelli analyst J. Garza now forecasts that the brokerage will earn $3.70 per share for the year, down from their previous forecast of $3.80.
Other research analysts have also recently issued reports about the company. Stifel Nicolaus upped their price objective on Lindsay Corp. from $64.00 to $69.00 and gave the company a “sell” rating in a report on Friday. Zacks Investment Research cut Lindsay Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Finally, TheStreet cut Lindsay Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $72.29.
Shares of Lindsay Corp. (NYSE:LNN) opened at 78.42 on Monday. The stock has a 50 day moving average price of $72.38 and a 200-day moving average price of $71.27. The firm has a market cap of $833.60 million, a PE ratio of 94.25 and a beta of 0.82. Lindsay Corp. has a 52-week low of $62.99 and a 52-week high of $80.28.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/fy2018-earnings-forecast-for-lindsay-corp-lnn-issued-by-gabelli.html
Lindsay Corp. (NYSE:LNN) last announced its quarterly earnings results on Thursday, October 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.30. Lindsay Corp. had a return on equity of 11.25% and a net margin of 3.92%. The business had revenue of $132.90 million for the quarter, compared to the consensus estimate of $113.38 million. During the same period last year, the business posted $0.42 EPS. The business’s revenue was up 7.6% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the stock. CHICAGO TRUST Co NA acquired a new position in Lindsay Corp. during the third quarter valued at approximately $274,000. Fenimore Asset Management Inc. raised its position in Lindsay Corp. by 4.4% in the third quarter. Fenimore Asset Management Inc. now owns 111,190 shares of the company’s stock valued at $8,226,000 after buying an additional 4,725 shares during the period. Mason Street Advisors LLC acquired a new position in Lindsay Corp. during the second quarter valued at approximately $143,000. Schwab Charles Investment Management Inc. raised its position in Lindsay Corp. by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,326 shares of the company’s stock valued at $3,687,000 after buying an additional 2,190 shares during the period. Finally, Legal & General Group Plc raised 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.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s dividend payout ratio is currently 61.70%.
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.
Receive News & Ratings for Lindsay Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lindsay Corp. and related companies with MarketBeat.com's FREE daily email newsletter.