Today: The Lindsay Corp. (LNN) Announces Earnings Results

The Lindsay Corp. (LNN) Announces  Earnings Results

Lindsay Corp. (NYSE:LNN) released its quarterly earnings results on Thursday. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.30. The firm earned $132.90 million during the quarter, compared to the consensus estimate of $63.67 million. Lindsay Corp. had a net margin of 1.83% and a return on equity of 9.74%.

Shares of Lindsay Corp. (NYSE:LNN) opened at 69.30 on Thursday. The firm has a 50-day moving average of $72.19 and a 200-day moving average of $71.22. Lindsay Corp. has a 12-month low of $62.99 and a 12-month high of $79.27. The firm has a market capitalization of $736.66 million, a PE ratio of 83.29 and a beta of 0.82.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s payout ratio is 133.33%.

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its position in Lindsay Corp. by 0.6% in the second quarter. BlackRock Advisors LLC now owns 5,254 shares of the company’s stock worth $357,000 after buying an additional 30 shares in the last quarter. BlackRock Investment Management LLC boosted its position in Lindsay Corp. by 2.3% in the second quarter. BlackRock Investment Management LLC now owns 45,899 shares of the company’s stock worth $3,115,000 after buying an additional 1,053 shares in the last quarter. BlackRock Inc. boosted its position in Lindsay Corp. by 9.9% in the second quarter. BlackRock Inc. now owns 17,987 shares of the company’s stock worth $1,221,000 after buying an additional 1,613 shares in the last quarter. BlackRock Group LTD boosted its position in Lindsay Corp. by 7.6% in the second quarter. BlackRock Group LTD now owns 48,787 shares of the company’s stock worth $3,311,000 after buying an additional 3,450 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Lindsay Corp. during the second quarter worth approximately $210,000.

LNN has been the subject of several analyst reports. TheStreet raised shares of Lindsay Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 1st. Zacks Investment Research downgraded shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.57.

About Lindsay Corp.

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