Wall Street analysts forecast that Lindsay Co. (NYSE:LNN) will announce earnings of $0.79 per share for the current quarter, according to Zacks. Three analysts have made estimates for Lindsay’s earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.60. Lindsay posted earnings of $0.59 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 33.9%. The firm is expected to announce its next earnings report on Thursday, October 11th.
On average, analysts expect that Lindsay will report full-year earnings of $3.20 per share for the current fiscal year, with EPS estimates ranging from $3.11 to $3.35. For the next financial year, analysts expect that the company will report earnings of $3.56 per share, with EPS estimates ranging from $3.16 to $4.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Lindsay.
Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, June 28th. The industrial products company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.27. Lindsay had a net margin of 3.89% and a return on equity of 12.26%. The company had revenue of $169.60 million during the quarter, compared to the consensus estimate of $167.57 million. During the same period in the prior year, the business posted $1.02 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis.
A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research downgraded shares of Lindsay from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. TheStreet raised shares of Lindsay from a “c+” rating to a “b+” rating in a research note on Thursday, June 28th. Finally, Stifel Nicolaus lowered their target price on shares of Lindsay from $94.00 to $91.00 and set a “hold” rating for the company in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Lindsay presently has an average rating of “Hold” and a consensus target price of $101.50.
NYSE LNN traded down $0.26 during mid-day trading on Monday, reaching $95.66. 56,300 shares of the stock were exchanged, compared to its average volume of 82,951. Lindsay has a one year low of $83.57 and a one year high of $103.03. The company has a market capitalization of $987.55 million, a PE ratio of 44.08, a P/E/G ratio of 1.44 and a beta of 0.34. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.42.
The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were paid a $0.31 dividend. This is an increase from Lindsay’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, August 16th. Lindsay’s payout ratio is 57.14%.
In other Lindsay news, Director Bill Welsh sold 3,000 shares of Lindsay stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $93.52, for a total value of $280,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cavalier Investments LLC increased its stake in shares of Lindsay by 18.5% in the 2nd quarter. Cavalier Investments LLC now owns 3,927 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 612 shares in the last quarter. Robecosam AG increased its position in Lindsay by 5.4% during the first quarter. Robecosam AG now owns 12,246 shares of the industrial products company’s stock worth $1,120,000 after buying an additional 626 shares during the period. Rhumbline Advisers increased its position in Lindsay by 2.6% during the second quarter. Rhumbline Advisers now owns 25,488 shares of the industrial products company’s stock worth $2,472,000 after buying an additional 655 shares during the period. Victory Capital Management Inc. increased its position in Lindsay by 16.0% during the second quarter. Victory Capital Management Inc. now owns 5,149 shares of the industrial products company’s stock worth $499,000 after buying an additional 709 shares during the period. Finally, Northern Trust Corp increased its position in Lindsay by 0.5% during the first quarter. Northern Trust Corp now owns 139,978 shares of the industrial products company’s stock worth $12,799,000 after buying an additional 756 shares during the period. 92.91% of the stock is owned by hedge funds and other institutional investors.
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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