Lindsay Corporation (LNN) to Post FY2018 Earnings of $3.15 Per Share, Gabelli Forecasts
Lindsay Corporation (NYSE:LNN) – Stock analysts at Gabelli reduced their FY2018 earnings estimates for Lindsay Corporation in a research note issued to investors on Monday. Gabelli analyst J. Garza now expects that the industrial products company will earn $3.15 per share for the year, down from their prior estimate of $3.30. Gabelli also issued estimates for Lindsay Corporation’s FY2019 earnings at $4.00 EPS, FY2020 earnings at $4.90 EPS and FY2021 earnings at $5.25 EPS.
A number of other research firms have also commented on LNN. Zacks Investment Research upgraded shares of Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Monday, July 31st. BidaskClub lowered shares of Lindsay Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Piper Jaffray Companies set a $80.00 price target on shares of Lindsay Corporation and gave the company a “hold” rating in a research report on Saturday, August 5th. Sidoti restated a “buy” rating and issued a $107.00 price target (up from $100.00) on shares of Lindsay Corporation in a research report on Friday, July 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $95.00.
Shares of Lindsay Corporation (NYSE:LNN) traded up 2.39% during trading on Tuesday, reaching $91.26. 59,844 shares of the company’s stock were exchanged. Lindsay Corporation has a 52-week low of $72.85 and a 52-week high of $95.04. The company has a market capitalization of $975.48 million, a PE ratio of 39.54 and a beta of 0.44. The company has a 50 day moving average price of $89.17 and a 200-day moving average price of $87.85.
Lindsay Corporation (NYSE:LNN) last issued its earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analysts’ expectations of $134.83 million.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.35%. Lindsay Corporation’s dividend payout ratio (DPR) is presently 55.56%.
In other Lindsay Corporation news, insider Rick Parod sold 77,387 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $91.47, for a total value of $7,078,588.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its position in shares of Lindsay Corporation by 100.0% during the first quarter. US Bancorp DE now owns 1,800 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 900 shares in the last quarter. Comerica Bank lifted its position in shares of Lindsay Corporation by 3.6% during the first quarter. Comerica Bank now owns 12,341 shares of the industrial products company’s stock worth $1,089,000 after purchasing an additional 427 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Lindsay Corporation during the first quarter worth approximately $412,000. Ameriprise Financial Inc. lifted its position in shares of Lindsay Corporation by 4.6% during the first quarter. Ameriprise Financial Inc. now owns 58,037 shares of the industrial products company’s stock worth $5,114,000 after purchasing an additional 2,552 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its position in shares of Lindsay Corporation by 7.0% during the first quarter. Mason Street Advisors LLC now owns 2,486 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.
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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