Lindsay Corp. (NYSE:LNN) – Boenning Scattergood lifted their Q1 2017 earnings estimates for Lindsay Corp. in a report issued on Thursday. Boenning Scattergood analyst R. Connors now forecasts that the firm will earn $0.54 per share for the quarter, up from their previous estimate 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.
Lindsay Corp. (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 13th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.30. Lindsay Corp. had a return on equity of 11.25% and a net margin of 3.92%. The business earned $132.90 million during the quarter, compared to analysts’ expectations of $113.38 million. During the same period in the previous year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year.
Several other analysts also recently commented on LNN. TheStreet downgraded Lindsay Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Zacks Investment Research downgraded Lindsay Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Finally, Stifel Nicolaus raised their target price on Lindsay Corp. from $64.00 to $69.00 and gave the company 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 given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $72.29.
Shares of Lindsay Corp. (NYSE:LNN) opened at 77.55 on Monday. The stock has a 50 day moving average price of $72.47 and a 200-day moving average price of $71.21. The company has a market capitalization of $824.36 million, a price-to-earnings ratio of 93.21 and a beta of 0.82. Lindsay Corp. has a one year low of $62.99 and a one year high of $80.28.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.29 per share. The ex-dividend date 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 currently 61.70%.
Several institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in Lindsay Corp. by 0.4% in the first quarter. Aperio Group LLC now owns 11,196 shares of the company’s stock valued at $802,000 after buying an additional 48 shares in the last quarter. Teachers Advisors Inc. boosted its position in Lindsay Corp. by 15.8% in the first quarter. Teachers Advisors Inc. now owns 21,040 shares of the company’s stock valued at $1,507,000 after buying an additional 2,867 shares in the last quarter. Prudential Financial Inc. boosted its position in Lindsay Corp. by 1.5% in the first quarter. Prudential Financial Inc. now owns 26,776 shares of the company’s stock valued at $1,917,000 after buying an additional 400 shares in the last quarter. BlackRock Inc. boosted its position in Lindsay Corp. by 265.9% in the first quarter. BlackRock Inc. now owns 16,374 shares of the company’s stock valued at $1,172,000 after buying an additional 11,899 shares in the last quarter. Finally, Mariner Wealth Advisors LLC purchased a new position in Lindsay Corp. during the first quarter valued at approximately $353,000.
About Lindsay Corp.