Analysts Anticipate Lindsay Co. (LNN) Will Announce Earnings of $0.56 Per Share

Wall Street brokerages forecast that Lindsay Co. (NYSE:LNN) will report earnings of $0.56 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Lindsay’s earnings, with estimates ranging from $0.53 to $0.60. Lindsay reported earnings of $0.47 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 19.1%. The firm is scheduled to issue its next earnings report on Thursday, March 29th.

On average, analysts expect that Lindsay will report full year earnings of $3.05 per share for the current financial year, with EPS estimates ranging from $2.88 to $3.32. For the next year, analysts forecast that the business will report earnings of $3.78 per share, with EPS estimates ranging from $3.40 to $4.65. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Lindsay.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). The business had revenue of $124.53 million for the quarter, compared to analyst estimates of $117.11 million. Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share.

A number of analysts recently issued reports on LNN shares. Stifel Nicolaus raised their price objective on Lindsay from $76.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, October 13th. TheStreet downgraded Lindsay from a “b” rating to a “c+” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded Lindsay from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Lindsay in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $95.25.

Shares of Lindsay (NYSE LNN) traded up $1.13 during trading hours on Friday, hitting $92.79. The company had a trading volume of 59,877 shares, compared to its average volume of 94,261. The company has a quick ratio of 2.24, a current ratio of 3.29 and a debt-to-equity ratio of 0.43. The firm has a market cap of $982.72, a P/E ratio of 38.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.50. Lindsay has a 1 year low of $73.34 and a 1 year high of $96.22.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, February 13th. Lindsay’s dividend payout ratio is currently 50.42%.

In other Lindsay news, EVP David B. Downing sold 21,816 shares of Lindsay stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $86.11, for a total value of $1,878,575.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Nahl sold 7,200 shares of Lindsay stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.43, for a total value of $622,296.00. Following the completion of the transaction, the director now directly owns 3,687 shares of the company’s stock, valued at $318,667.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,281 shares of company stock valued at $4,763,339. 3.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC grew its position in Lindsay by 72.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 544 shares in the last quarter. Van ECK Associates Corp grew its position in Lindsay by 27.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 362 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Lindsay in the 2nd quarter valued at about $205,000. OxFORD Asset Management LLP acquired a new position in Lindsay in the 2nd quarter valued at about $219,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Lindsay in the 3rd quarter valued at about $224,000. 93.97% of the stock is owned by institutional investors.

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Lindsay Company Profile

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

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Earnings History and Estimates for Lindsay (NYSE:LNN)

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