Lindsay Co. (LNN) Expected to Post Quarterly Sales of $137.63 Million

Share on StockTwits

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.

In other Lindsay news, Director Bill Welsh sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $93.52, for a total transaction of $280,560.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

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.

About Lindsay

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.

Further Reading: What is a stock split?

Get a free copy of the Zacks research report on Lindsay (LNN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Lindsay (NYSE:LNN)

Receive News & Ratings for Lindsay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lindsay and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Eaton Vance Tax-Managed Buy-Write Income  to Issue Monthly Dividend of $0.11 on  October 31st
Eaton Vance Tax-Managed Buy-Write Income to Issue Monthly Dividend of $0.11 on October 31st
Eaton Vance Municipal Bond Fund  Announces Monthly Dividend of $0.04
Eaton Vance Municipal Bond Fund Announces Monthly Dividend of $0.04
Jabil Inc  Shares Bought by Strs Ohio
Jabil Inc Shares Bought by Strs Ohio
Athene Holding Ltd  Shares Sold by Strs Ohio
Athene Holding Ltd Shares Sold by Strs Ohio
Urovant Sciences  Now Covered by Analysts at JPMorgan Chase & Co.
Urovant Sciences Now Covered by Analysts at JPMorgan Chase & Co.
OGE Energy  Coverage Initiated at Barclays
OGE Energy Coverage Initiated at Barclays


Leave a Reply

© 2006-2018 Ticker Report. Google+.