Brokerages Expect Lindsay Corporation (LNN) to Post $0.36 EPS
Analysts predict that Lindsay Corporation (NYSE:LNN) will post earnings of $0.36 per share for the current quarter, according to Zacks. Four analysts have made estimates for Lindsay Corporation’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.28. Lindsay Corporation reported earnings per share of $0.08 during the same quarter last year, which suggests a positive year over year growth rate of 350%. The company is expected to issue its next quarterly earnings report on Wednesday, December 20th.
On average, analysts expect that Lindsay Corporation will report full-year earnings of $2.95 per share for the current year, with EPS estimates ranging from $2.75 to $3.15. For the next financial year, analysts expect that the company will post earnings of $3.64 per share, with EPS estimates ranging from $3.43 to $4.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Lindsay Corporation.
Lindsay Corporation (NYSE:LNN) last released its quarterly earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.18. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%. The firm had revenue of $131.94 million during the quarter, compared to the consensus estimate of $134.83 million.
LNN has been the subject of several recent research reports. BidaskClub downgraded Lindsay Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Boenning Scattergood restated a “hold” rating on shares of Lindsay Corporation in a report on Thursday, June 29th. Zacks Investment Research upgraded Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Monday, July 31st. Piper Jaffray Companies set a $80.00 price objective on Lindsay Corporation and gave the company a “hold” rating in a report on Saturday, August 5th. Finally, Sidoti restated a “buy” rating and set a $107.00 price objective (up previously from $100.00) on shares of Lindsay Corporation in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Lindsay Corporation presently has a consensus rating of “Hold” and an average price target of $95.00.
In related news, insider Rick Parod sold 77,387 shares of Lindsay Corporation stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $91.47, for a total transaction of $7,078,588.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in LNN. Karp Capital Management Corp purchased a new position in shares of Lindsay Corporation during the first quarter valued at approximately $412,000. Ameriprise Financial Inc. boosted its position in shares of Lindsay Corporation by 4.6% during the first quarter. Ameriprise Financial Inc. now owns 58,037 shares of the industrial products company’s stock valued at $5,114,000 after buying an additional 2,552 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Lindsay Corporation by 7.0% during the first quarter. Mason Street Advisors LLC now owns 2,486 shares of the industrial products company’s stock valued at $219,000 after buying an additional 163 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Lindsay Corporation by 172.3% during the first quarter. JPMorgan Chase & Co. now owns 25,576 shares of the industrial products company’s stock valued at $2,254,000 after buying an additional 16,183 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Lindsay Corporation during the first quarter valued at approximately $133,000. 97.44% of the stock is currently owned by institutional investors.
Lindsay Corporation (LNN) traded up 0.53% during trading on Friday, reaching $91.22. The company’s stock had a trading volume of 75,981 shares. Lindsay Corporation has a 12 month low of $72.85 and a 12 month high of $95.04. The company’s 50-day moving average is $89.72 and its 200-day moving average is $87.95. The stock has a market cap of $975.78 million, a PE ratio of 42.04 and a beta of 0.44.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.32%. Lindsay Corporation’s payout ratio is 55.56%.
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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