Shares of Lindsay Corporation (NYSE:LNN) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $95.00.
LNN has been the topic of a number of research analyst reports. Stifel Nicolaus set a $76.00 target price on Lindsay and gave the company a “hold” rating in a report on Friday, August 18th. BidaskClub lowered Lindsay from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $80.00 target price on shares of Lindsay in a report on Sunday, September 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay in a report on Thursday, October 12th. Finally, TheStreet lowered Lindsay from a “b” rating to a “c+” rating in a report on Thursday, October 12th.
Several large investors have recently made changes to their positions in LNN. Flinton Capital Management LLC grew its holdings in shares of Lindsay by 72.7% during the 2nd quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock worth $115,000 after purchasing an additional 544 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Lindsay by 467.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 1,177 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Lindsay by 27.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 362 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Lindsay by 79.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,095 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 925 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Lindsay during the 2nd quarter worth approximately $205,000. 94.35% of the stock is currently owned by institutional investors.
Lindsay (NYSE:LNN) last released its earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.18. The firm had revenue of $131.94 million for the quarter, compared to analyst estimates of $134.83 million. Lindsay had a return on equity of 8.95% and a net margin of 4.47%. equities research analysts forecast that Lindsay will post 2.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Wednesday, November 15th. Lindsay’s payout ratio is presently 55.56%.
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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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