Brokerages Anticipate Lindsay Corporation (LNN) to Post $0.36 Earnings Per Share
Analysts expect that Lindsay Corporation (NYSE:LNN) will announce $0.36 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Lindsay Corporation’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.54. Lindsay Corporation reported earnings per share of $0.08 in the same quarter last year, which suggests a positive year-over-year growth rate of 350%. The company is scheduled to report its next 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 financial year, with EPS estimates ranging from $2.75 to $3.15. For the next financial year, analysts anticipate that the company will post earnings of $3.59 per share, with EPS estimates ranging from $3.40 to $4.00. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Lindsay Corporation.
Lindsay Corporation (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 12th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.18. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%. The business had revenue of $131.94 million during the quarter, compared to analyst estimates of $134.83 million.
Several equities analysts have weighed in on LNN shares. BidaskClub lowered Lindsay Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Monday, July 31st. Piper Jaffray Companies set a $80.00 target price on Lindsay Corporation and gave the company a “hold” rating in a report on Saturday, August 5th. Boenning Scattergood restated a “hold” rating on shares of Lindsay Corporation in a report on Thursday, October 12th. Finally, TheStreet lowered Lindsay Corporation from a “b” rating to a “c+” rating in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $95.00.
Several institutional investors have recently bought and sold shares of LNN. JPMorgan Chase & Co. increased its stake in shares of Lindsay Corporation by 172.3% in the first quarter. JPMorgan Chase & Co. now owns 25,576 shares of the industrial products company’s stock worth $2,254,000 after purchasing an additional 16,183 shares during the period. SG Americas Securities LLC bought a new position in shares of Lindsay Corporation in the first quarter worth about $133,000. OppenheimerFunds Inc. increased its stake in shares of Lindsay Corporation by 26.6% in the first quarter. OppenheimerFunds Inc. now owns 4,788 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 1,006 shares during the period. Teachers Advisors LLC increased its stake in shares of Lindsay Corporation by 1.6% in the first quarter. Teachers Advisors LLC now owns 20,768 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 337 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Lindsay Corporation by 0.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,957 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 97.51% of the company’s stock.
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Lindsay Corporation (NYSE LNN) opened at $88.79 on Friday. Lindsay Corporation has a 1-year low of $72.85 and a 1-year high of $95.04. The company has a current ratio of 3.18, a quick ratio of 2.25 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $957.17, a PE ratio of 41.43, a price-to-earnings-growth ratio of 2.02 and a beta of 0.49.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.35%. Lindsay Corporation’s payout ratio is presently 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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