Lindsay Corporation (NYSE:LNN) – Analysts at William Blair decreased their Q2 2018 earnings per share (EPS) estimates for Lindsay in a research report issued on Friday. William Blair analyst B. Drab now anticipates that the industrial products company will post earnings of $0.55 per share for the quarter, down from their previous estimate of $0.62. William Blair also issued estimates for Lindsay’s Q3 2018 earnings at $1.36 EPS and FY2019 earnings at $3.61 EPS.
Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The business had revenue of $124.53 million during the quarter, compared to analyst estimates of $117.11 million. During the same period in the previous year, the company posted $0.08 earnings per share. Lindsay’s revenue was up 12.8% compared to the same quarter last year.
Shares of Lindsay (NYSE:LNN) opened at $87.14 on Monday. Lindsay has a 1-year low of $73.34 and a 1-year high of $96.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.29 and a quick ratio of 2.25. The firm has a market cap of $944.55, a PE ratio of 36.61, a price-to-earnings-growth ratio of 1.99 and a beta of 0.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of LNN. Municipal Employees Retirement System of Michigan raised its holdings in Lindsay by 41.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,390 shares of the industrial products company’s stock worth $303,000 after buying an additional 1,000 shares during the period. Great West Life Assurance Co. Can raised its holdings in Lindsay by 4.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 15,658 shares of the industrial products company’s stock worth $1,398,000 after buying an additional 599 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Lindsay by 5.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 74,168 shares of the industrial products company’s stock worth $6,620,000 after buying an additional 3,970 shares during the period. First Trust Advisors LP raised its holdings in Lindsay by 8.1% during the 2nd quarter. First Trust Advisors LP now owns 58,812 shares of the industrial products company’s stock worth $5,249,000 after buying an additional 4,389 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Lindsay by 27.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,270 shares of the industrial products company’s stock worth $381,000 after buying an additional 907 shares during the period. Hedge funds and other institutional investors own 94.23% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.38%. Lindsay’s payout ratio is presently 50.42%.
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Lindsay 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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