Lindsay Corp. (LNN) Trading Down 2.4%
Shares of Lindsay Corp. (NYSE:LNN) dropped 2.4% on Tuesday . The stock traded as low as $70.76 and last traded at $71.02, with a volume of 78,052 shares traded. The stock had previously closed at $72.79.
LNN has been the subject of several recent research reports. TheStreet raised shares of Lindsay Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 1st. Stifel Nicolaus downgraded shares of Lindsay Corp. from a “hold” rating to a “sell” rating and set a $64.00 price target for the company. in a research note on Thursday, June 2nd. Seaport Global Securities initiated coverage on shares of Lindsay Corp. in a research note on Tuesday, May 24th. They issued a “neutral” rating and a $67.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.38.
The stock’s 50-day moving average price is $71.08 and its 200-day moving average price is $71.78. The stock has a market cap of $756.32 million and a PE ratio of 85.52.
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Lindsay Corp. (NYSE:LNN) last announced its quarterly earnings data on Thursday, June 30th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.09. The firm had revenue of $141.30 million for the quarter. During the same period in the previous year, the firm earned $1.10 earnings per share. The company’s quarterly revenue was down 12.1% on a year-over-year basis. On average, equities analysts expect that Lindsay Corp. will post $1.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were paid a $0.29 dividend. The ex-dividend date was Monday, August 15th. This is a positive change from Lindsay Corp.’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.63%.
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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