Lindsay Corporation (NYSE:LNN) – Equities researchers at Seaport Global Securities reduced their Q2 2018 earnings per share estimates for shares of Lindsay Corporation in a note issued to investors on Friday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will earn $0.52 per share for the quarter, down from their prior forecast of $0.56. Seaport Global Securities also issued estimates for Lindsay Corporation’s Q3 2018 earnings at $1.23 EPS, Q4 2018 earnings at $0.78 EPS, FY2018 earnings at $2.80 EPS and FY2019 earnings at $3.47 EPS.
Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of Lindsay Corporation from a “b” rating to a “c+” rating in a research note on Thursday, October 12th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay Corporation in a research note on Thursday, October 12th. Stifel Nicolaus raised their target price on shares of Lindsay Corporation from $76.00 to $90.00 and gave the company a “hold” rating in a research note on Friday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $80.00 target price on shares of Lindsay Corporation in a research note on Sunday, September 10th. Finally, BidaskClub downgraded shares of Lindsay Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $95.00.
Lindsay Corporation (LNN) traded up 2.86% during trading on Monday, reaching $91.68. 56,588 shares of the company’s stock traded hands. The company’s 50 day moving average is $89.17 and its 200-day moving average is $87.85. The stock has a market cap of $979.97 million, a price-to-earnings ratio of 39.72 and a beta of 0.44. Lindsay Corporation has a 52-week low of $72.85 and a 52-week high of $95.04.
Lindsay Corporation (NYSE:LNN) last released its earnings results on Thursday, October 12th. The industrial products company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.41 by $0.18. Lindsay Corporation had a net margin of 4.47% and a return on equity of 8.95%. The firm had revenue of $131.94 million for the quarter, compared to analyst estimates of $134.83 million.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new position in Lindsay Corporation during the second quarter valued at approximately $205,000. CS Mckee LP grew its position in Lindsay Corporation by 0.6% during the second quarter. CS Mckee LP now owns 17,850 shares of the industrial products company’s stock valued at $1,593,000 after acquiring an additional 100 shares during the last quarter. State Street Corp grew its position in Lindsay Corporation by 3.8% during the second quarter. State Street Corp now owns 269,948 shares of the industrial products company’s stock valued at $24,094,000 after acquiring an additional 9,763 shares during the last quarter. Flinton Capital Management LLC grew its position in Lindsay Corporation by 72.7% during the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 544 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new position in Lindsay Corporation during the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 97.44% of the company’s stock.
In other Lindsay Corporation news, insider Rick Parod sold 77,387 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were 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 can be accessed through this hyperlink. 3.10% of the stock is owned by company insiders.
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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, November 15th. Lindsay Corporation’s dividend payout ratio is currently 55.56%.
Lindsay Corporation Company Profile
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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