After we said "The stock is down $33.91 (27.25%) at $90.52 pre-market. This is one hell of an opportunity...",
LNN clawed its way back to $116. The quick money has been made on Mr. Market's manic depression but this is a class-act company (even though they did guide "in line" and then come in seven cents short). It's at $108 now.
From 24/7 Wall Street:
Lindsay Corporation (NYSE LNN) is seeing a severe reaction to its earnings report this morning. In fact, the fallout is hitting competitors rather hard as well. We first noticed this one over in our screening at VOLUME SPIKE in unusual movers to the downside and decided to look deeper here as this has been one of the agriculture plays and huge winners over the last year.
Lindsay's revenues rose 54% to $143.6 million from $93.1 million for the year-ago period; and net earnings were $14.1 million or $1.15 EPS, compared with $7.5 million or $0.62 EPS in the prior year’s third quarter. There were only two estimates but the estimates from First Call were at $1.22 EPS on $137.2 million....MORE