Analysts Set Expectations for Lindsay Corp.’s Q1 2017 Earnings (LNN)
Lindsay Corp. (NYSE:LNN) – Analysts at William Blair issued their Q1 2017 earnings per share (EPS) estimates for shares of Lindsay Corp. in a research note issued to investors on Friday. William Blair analyst B. Drab forecasts that the firm will post earnings per share of $0.65 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.
Lindsay Corp. (NYSE:LNN) last issued its quarterly earnings data on Thursday, October 13th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.30. The firm earned $132.90 million during the quarter, compared to the consensus estimate of $113.38 million. Lindsay Corp. had a return on equity of 11.25% and a net margin of 3.92%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Lindsay Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday, September 8th. Stifel Nicolaus raised their target price on Lindsay Corp. from $64.00 to $69.00 and gave the company a “sell” rating in a report on Friday. Finally, TheStreet raised Lindsay Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Lindsay Corp. presently has a consensus rating of “Hold” and an average target price of $72.29.
Lindsay Corp. (NYSE:LNN) opened at 77.55 on Monday. The company’s 50-day moving average price is $72.47 and its 200-day moving average price is $71.21. The company has a market capitalization of $824.36 million, a P/E ratio of 93.21 and a beta of 0.82. Lindsay Corp. has a 52 week low of $62.99 and a 52 week high of $80.28.
Several hedge funds have recently made changes to their positions in the company. CHICAGO TRUST Co NA purchased a new stake in shares of Lindsay Corp. during the third quarter worth approximately $274,000. Fenimore Asset Management Inc. increased its position in Lindsay Corp. by 4.4% in the third quarter. Fenimore Asset Management Inc. now owns 111,190 shares of the company’s stock valued at $8,226,000 after buying an additional 4,725 shares during the period. Mason Street Advisors LLC bought a new position in Lindsay Corp. during the second quarter valued at approximately $143,000. Schwab Charles Investment Management Inc. increased its position in Lindsay Corp. by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,326 shares of the company’s stock valued at $3,687,000 after buying an additional 2,190 shares during the period. Finally, Legal & General Group Plc increased its position in Lindsay Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 2,911 shares of the company’s stock valued at $205,000 after buying an additional 84 shares during the period.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.50%. Lindsay Corp.’s dividend payout ratio is currently 61.70%.
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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