Boenning Scattergood Equities Analysts Boost Earnings Estimates for Lindsay Corp. (LNN)
Lindsay Corp. (NYSE:LNN) – Equities research analysts at Boenning Scattergood lifted their Q1 2017 earnings per share estimates for shares of Lindsay Corp. in a research report issued on Thursday. Boenning Scattergood analyst R. Connors now anticipates that the brokerage will post earnings per share of $0.54 for the quarter, up from their prior forecast of $0.51. Boenning Scattergood also issued estimates for Lindsay Corp.’s Q2 2017 earnings at $0.53 EPS, Q3 2017 earnings at $0.87 EPS, Q4 2017 earnings at $0.81 EPS and FY2017 earnings at $2.75 EPS.
Several other brokerages have also weighed in on LNN. TheStreet lowered shares of Lindsay Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Zacks Investment Research lowered shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Finally, Stifel Nicolaus increased their target price on shares of Lindsay Corp. from $64.00 to $69.00 and gave the stock a “sell” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Lindsay Corp. currently has a consensus rating of “Hold” and an average target price of $72.29.
Shares of Lindsay Corp. (NYSE:LNN) opened at 77.55 on Monday. The stock has a 50 day moving average of $72.47 and a 200 day moving average of $71.21. The company has a market cap of $824.36 million, a price-to-earnings ratio of 93.21 and a beta of 0.82. Lindsay Corp. has a 12-month low of $62.99 and a 12-month high of $80.28.
Lindsay Corp. (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.43 by $0.30. Lindsay Corp. had a net margin of 3.92% and a return on equity of 11.25%. The business earned $132.90 million during the quarter, compared to analyst estimates of $113.38 million. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.50%. Lindsay Corp.’s dividend payout ratio is presently 61.70%.
Hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of Lindsay Corp. by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,584 shares of the company’s stock valued at $107,000 after buying an additional 186 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in shares of Lindsay Corp. during the second quarter valued at about $143,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Lindsay Corp. during the second quarter valued at about $202,000. Legal & General Group Plc boosted its stake in shares of 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 in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Lindsay Corp. during the second quarter valued at about $210,000.
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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