Lindsay Co. (NYSE:LNN) – Equities researchers at Boenning Scattergood decreased their Q4 2020 earnings per share estimates for shares of Lindsay in a research note issued to investors on Tuesday, April 9th, according to Zacks Investment Research. Boenning Scattergood analyst R. Connors now expects that the industrial products company will post earnings of $0.83 per share for the quarter, down from their previous estimate of $0.88. Boenning Scattergood has a “Buy” rating and a $132.00 price objective on the stock.
A number of other research firms also recently issued reports on LNN. ValuEngine downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. TheStreet downgraded shares of Lindsay from a “b” rating to a “c+” rating in a report on Tuesday, January 8th. Finally, Zacks Investment Research upgraded shares of Lindsay from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $102.60.
Lindsay (NYSE:LNN) last released its earnings results on Tuesday, April 9th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.60). Lindsay had a net margin of 2.55% and a return on equity of 9.72%. The company had revenue of $109.20 million during the quarter, compared to analysts’ expectations of $115.43 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Lindsay’s revenue for the quarter was down 16.2% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in the business. Cardinal Capital Management lifted its position in Lindsay by 2.3% during the first quarter. Cardinal Capital Management now owns 7,740 shares of the industrial products company’s stock valued at $749,000 after buying an additional 172 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Lindsay by 6.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,424 shares of the industrial products company’s stock valued at $329,000 after buying an additional 193 shares in the last quarter. Rhumbline Advisers lifted its position in Lindsay by 0.7% during the first quarter. Rhumbline Advisers now owns 30,762 shares of the industrial products company’s stock valued at $2,977,000 after buying an additional 212 shares in the last quarter. Comerica Bank lifted its position in Lindsay by 2.1% during the first quarter. Comerica Bank now owns 11,084 shares of the industrial products company’s stock valued at $941,000 after buying an additional 231 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Lindsay by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 6,151 shares of the industrial products company’s stock valued at $592,000 after buying an additional 239 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.41%. Lindsay’s dividend payout ratio (DPR) is 42.18%.
Lindsay Company Profile
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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