Lindsay Corp. Expected to Earn Q1 2017 Earnings of $0.65 Per Share (LNN)
Lindsay Corp. (NYSE:LNN) – Equities research analysts at William Blair issued their Q1 2017 earnings per share estimates for Lindsay Corp. in a research report issued on Friday. William Blair analyst B. Drab anticipates that the firm will earn $0.65 per share for the quarter. William Blair also issued estimates for Lindsay Corp.’s Q3 2017 earnings at $1.04 EPS, Q4 2017 earnings at $0.67 EPS and FY2017 earnings at $3.00 EPS.
LNN has been the subject of a number of other reports. TheStreet raised shares of Lindsay Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 1st. Zacks Investment Research downgraded shares of Lindsay Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday, September 8th. Finally, Stifel Nicolaus raised their price objective on shares of Lindsay Corp. from $64.00 to $69.00 and gave the stock a “sell” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $72.29.
Shares of Lindsay Corp. (NYSE:LNN) opened at 78.42 on Monday. The firm has a market capitalization of $833.60 million, a price-to-earnings ratio of 94.25 and a beta of 0.82. Lindsay Corp. has a 1-year low of $62.99 and a 1-year high of $80.28. The company’s 50-day moving average is $72.38 and its 200 day moving average is $71.27.
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Lindsay Corp. (NYSE:LNN) last released its earnings results on Thursday, October 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.43 by $0.30. Lindsay Corp. had a net margin of 3.92% and a return on equity of 11.25%. The business earned $132.90 million during the quarter, compared to analyst estimates of $113.38 million. During the same period in the prior year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis.
The company 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 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 (DPR) is currently 61.70%.
Several large investors have recently made changes to their positions in LNN. Cardinal Capital Management boosted its stake in shares of Lindsay Corp. by 7.0% in the second quarter. Cardinal Capital Management now owns 4,388 shares of the company’s stock worth $298,000 after buying an additional 288 shares during the period. First Midwest Bank Trust Division boosted its stake in Lindsay Corp. by 45.1% in the second quarter. First Midwest Bank Trust Division now owns 4,091 shares of the company’s stock valued at $278,000 after buying an additional 1,272 shares during the last quarter. Bank of Montreal Can bought a new stake in Lindsay Corp. during the second quarter valued at $1,717,000. John G Ullman & Associates Inc. boosted its stake in Lindsay Corp. by 7.9% in the second quarter. John G Ullman & Associates Inc. now owns 168,757 shares of the company’s stock valued at $11,452,000 after buying an additional 12,375 shares during the last quarter. Finally, Fenimore Asset Management Inc. boosted its stake in Lindsay Corp. by 296.7% in the second quarter. Fenimore Asset Management Inc. now owns 106,465 shares of the company’s stock valued at $7,225,000 after buying an additional 79,630 shares during the last quarter.
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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