Wall Street brokerages forecast that Lindsay Co. (NYSE:LNN) will report sales of $137.63 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lindsay’s earnings, with the lowest sales estimate coming in at $132.10 million and the highest estimate coming in at $143.16 million. Lindsay reported sales of $131.94 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, October 18th.
According to Zacks, analysts expect that Lindsay will report full-year sales of $566.73 million for the current fiscal year, with estimates ranging from $556.60 million to $576.00 million. For the next fiscal year, analysts expect that the firm will report sales of $590.85 million, with estimates ranging from $563.00 million to $623.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Lindsay.
A number of research analysts have commented on the stock. Monness Crespi & Hardt set a $70.00 target price on shares of Lindsay and gave the company a “sell” rating in a research report on Wednesday, September 19th. ValuEngine raised shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research raised shares of Lindsay from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Stifel Nicolaus raised their target price on shares of Lindsay from $91.00 to $92.00 and gave the company a “hold” rating in a research report on Monday, October 8th. Finally, TheStreet raised shares of Lindsay from a “c+” rating to a “b+” rating in a research report on Thursday, June 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $91.33.
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Lindsay by 225.4% in the 1st quarter. Royal Bank of Canada now owns 1,165 shares of the industrial products company’s stock worth $105,000 after buying an additional 807 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Lindsay in the 1st quarter worth approximately $154,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Lindsay in the 2nd quarter worth approximately $221,000. Crossmark Global Holdings Inc. purchased a new position in shares of Lindsay in the 2nd quarter worth approximately $222,000. Finally, SG Americas Securities LLC purchased a new position in shares of Lindsay in the 2nd quarter worth approximately $239,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.
NYSE LNN traded up $2.09 during trading on Friday, reaching $92.61. 71,472 shares of the company’s stock traded hands, compared to its average volume of 81,644. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.71 and a current ratio of 3.55. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 42.68, a price-to-earnings-growth ratio of 1.56 and a beta of 0.30. Lindsay has a 12-month low of $83.57 and a 12-month high of $105.00.
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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