Lindsay Corporation (LNN) Receives Coverage Optimism Score of 0.12
News coverage about Lindsay Corporation (NYSE:LNN) has been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Lindsay Corporation earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned news articles about the industrial products company an impact score of 44.4991348449495 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
LNN has been the topic of several recent research reports. BidaskClub lowered Lindsay Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research lowered Lindsay Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 31st. Piper Jaffray Companies reissued a “hold” rating and set a $80.00 price target on shares of Lindsay Corporation in a research report on Sunday, September 10th. Boenning Scattergood reissued a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, June 29th. Finally, Sidoti reissued a “buy” rating and set a $107.00 price target (up from $100.00) on shares of Lindsay Corporation in a research report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Lindsay Corporation has an average rating of “Hold” and a consensus price target of $91.50.
Lindsay Corporation (NYSE LNN) opened at 89.07 on Monday. Lindsay Corporation has a 12 month low of $69.11 and a 12 month high of $95.04. The firm has a market capitalization of $952.07 million, a price-to-earnings ratio of 38.59 and a beta of 0.46. The firm has a 50 day moving average price of $87.54 and a 200-day moving average price of $86.23.
Lindsay Corporation (NYSE:LNN) last issued its quarterly earnings data on Thursday, June 29th. The industrial products company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. The business had revenue of $151.50 million for the quarter, compared to analyst estimates of $145.30 million. Lindsay Corporation had a return on equity of 9.69% and a net margin of 4.75%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, equities analysts forecast that Lindsay Corporation will post $2.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were issued a dividend of $0.30 per share. This is a positive change from Lindsay Corporation’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.35%. Lindsay Corporation’s dividend payout ratio is currently 52.17%.
In related news, insider David B. Downing sold 7,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $89.28, for a total transaction of $624,960.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $7,078,588.89. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
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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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