Lindsay Co. (NYSE:LNN) – Boenning Scattergood decreased their Q4 2019 earnings per share estimates for Lindsay in a report released on Tuesday, July 9th. Boenning Scattergood analyst R. Connors now forecasts that the industrial products company will post earnings of $0.26 per share for the quarter, down from their prior forecast of $0.27. Boenning Scattergood currently has a “Neutral” rating on the stock. Boenning Scattergood also issued estimates for Lindsay’s Q1 2020 earnings at $0.65 EPS.
Lindsay (NYSE:LNN) last issued its earnings results on Tuesday, July 9th. The industrial products company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.31). The company had revenue of $121.10 million during the quarter, compared to the consensus estimate of $128.63 million. Lindsay had a return on equity of 5.24% and a net margin of 1.21%. Lindsay’s revenue was down 28.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share.
Separately, ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. One 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. Lindsay currently has a consensus rating of “Hold” and an average target price of $102.60.
Shares of LNN stock opened at $88.05 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.65 and a quick ratio of 2.63. The company has a market cap of $918.89 million, a P/E ratio of 29.95 and a beta of 0.34. The stock has a 50-day moving average of $80.96. Lindsay has a one year low of $73.00 and a one year high of $109.50.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.31 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.24 dividend on an annualized basis and a yield of 1.41%. Lindsay’s dividend payout ratio is currently 42.18%.
A number of hedge funds have recently modified their holdings of LNN. Quantamental Technologies LLC grew its stake in Lindsay by 629.7% in the 1st quarter. Quantamental Technologies LLC now owns 810 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 699 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Lindsay during the fourth quarter valued at approximately $90,000. Squarepoint Ops LLC bought a new position in shares of Lindsay during the fourth quarter valued at approximately $238,000. TD Asset Management Inc. bought a new position in shares of Lindsay during the first quarter valued at approximately $258,000. Finally, Piedmont Investment Advisors Inc. boosted its stake in shares of Lindsay by 6.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 2,723 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 96.03% 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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