Revenue Update on Lindsay Corporation(NYSE:LNN)

Lindsay Corporation(NYSE:LNN) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Jun 30, 2016. Company reported revenue of $141.32M. Analysts estimated a revenue of $148.43M. Earnings per share were $0.90. Analysts had estimated an EPS of $0.99.

In a different note, On Jun 2, 2016, Stifel Nicolaus said it Downgrades its rating on Lindsay Corporation. The shares have been rated ‘Sell’ by the firm.

Lindsay Corporation (LNN) shares turned negative on Tuesdays trading session with the shares closing down -1.48 points or -2.17% at a volume of 1,70,265. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $68.19. The peak price level was also seen at $68.19 while the days lowest was $65.8. Finally the shares closed at $66.8. The 52-week high of the shares is $88.705 while the 52-week low is $62.9942. According to the latest information available, the market cap of the company is $710 M.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, Brian L Ketcham (CFO) purchased 500 shares at $69.39 per share price.Also, On Jan 12, 2015, Barry Ruffalo (President-Infrastructure) sold 644 shares at $84.48 per share price.

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. The Irrigation Segment also manufactures and markets repair and replacement parts for its irrigation systems and controls. In addition the Irrigation Segment designs and manufactures water pumping stations and controls for the agriculture golf landscape and municipal markets and filtration solutions for groundwater agriculture industrial and heat transfer markets. Its Infrastructure Segment includes the manufacture and marketing of moveable barriers specialty barriers crash cushions and end terminals road marking and road safety equipment large diameter steel tubing and railroad signals and structures.

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