Lindsay Co. (NYSE:LNN) – Investment analysts at Boenning Scattergood issued their Q2 2019 earnings estimates for Lindsay in a research note issued to investors on Tuesday, January 8th. Boenning Scattergood analyst R. Connors expects that the industrial products company will post earnings per share of $0.31 for the quarter. Boenning Scattergood has a “Buy” rating and a $132.00 price target on the stock. Boenning Scattergood also issued estimates for Lindsay’s Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $1.60 EPS and FY2020 earnings at $4.25 EPS.
Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. TheStreet downgraded shares of Lindsay from a “b” rating to a “c+” rating in a research note on Tuesday. Stifel Nicolaus raised their price target on shares of Lindsay from $91.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, October 8th. Zacks Investment Research upgraded shares of Lindsay from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Sidoti downgraded shares of Lindsay from a “buy” rating to a “neutral” rating and set a $111.00 price target on the stock. in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Lindsay presently has a consensus rating of “Hold” and a consensus target price of $102.60.
Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 8th. The industrial products company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.09). Lindsay had a net margin of 3.42% and a return on equity of 11.80%. The company had revenue of $111.95 million during the quarter, compared to analyst estimates of $113.57 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was down 10.1% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 14th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, February 13th. This represents a $1.24 dividend on an annualized basis and a yield of 1.44%. Lindsay’s dividend payout ratio (DPR) is presently 42.18%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Keybank National Association OH bought a new position in Lindsay in the 3rd quarter valued at approximately $200,000. SG Americas Securities LLC bought a new position in Lindsay in the 2nd quarter valued at approximately $239,000. Laurion Capital Management LP bought a new position in Lindsay in the 2nd quarter valued at approximately $291,000. Paloma Partners Management Co bought a new position in Lindsay in the 2nd quarter valued at approximately $474,000. Finally, Suffolk Capital Management LLC bought a new position in Lindsay in the 3rd quarter valued at approximately $485,000. Institutional investors and hedge funds own 98.61% of the company’s stock.
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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