Zacks: Analysts Expect Lindsay Co. (LNN) to Announce $0.46 Earnings Per Share

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Equities analysts expect that Lindsay Co. (NYSE:LNN) will report earnings of $0.46 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Lindsay’s earnings, with estimates ranging from $0.35 to $0.57. Lindsay reported earnings per share of $0.30 during the same quarter last year, which indicates a positive year-over-year growth rate of 53.3%. The business is scheduled to announce its next earnings results on Thursday, December 20th.

According to Zacks, analysts expect that Lindsay will report full year earnings of $3.00 per share for the current year, with EPS estimates ranging from $2.84 to $3.15. For the next fiscal year, analysts forecast that the company will report earnings of $3.46 per share, with EPS estimates ranging from $3.19 to $3.72. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lindsay.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.38). The company had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $136.22 million. Lindsay had a return on equity of 11.53% and a net margin of 3.70%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS.

Several analysts recently commented on LNN shares. Sidoti downgraded shares of Lindsay from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a research report on Tuesday, November 13th. Stifel Nicolaus reduced their price target on shares of Lindsay from $94.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, September 4th. Zacks Investment Research downgraded shares of Lindsay from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. ValuEngine downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Monness Crespi & Hardt set a $70.00 price target on shares of Lindsay and gave the company a “sell” rating in a research report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Lindsay currently has a consensus rating of “Hold” and an average price target of $96.25.

Shares of NYSE:LNN traded down $3.63 during trading on Friday, hitting $97.19. 81,553 shares of the company were exchanged, compared to its average volume of 96,714. The company has a market capitalization of $1.08 billion, a PE ratio of 33.06, a P/E/G ratio of 1.87 and a beta of 0.43. The company has a current ratio of 4.13, a quick ratio of 3.14 and a debt-to-equity ratio of 0.42. Lindsay has a 12-month low of $83.57 and a 12-month high of $109.50.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were given a $0.31 dividend. The ex-dividend date was Thursday, November 15th. This represents a $1.24 annualized dividend and a yield of 1.28%. Lindsay’s dividend payout ratio (DPR) is 42.18%.

A number of hedge funds have recently added to or reduced their stakes in LNN. Rhumbline Advisers increased its stake in Lindsay by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 25,488 shares of the industrial products company’s stock valued at $2,472,000 after buying an additional 655 shares during the period. Victory Capital Management Inc. increased its stake in Lindsay by 16.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,149 shares of the industrial products company’s stock valued at $499,000 after buying an additional 709 shares during the period. Robecosam AG increased its stake in Lindsay by 6.2% in the 3rd quarter. Robecosam AG now owns 13,381 shares of the industrial products company’s stock valued at $1,320,000 after buying an additional 781 shares during the period. Royal Bank of Canada increased its stake in Lindsay by 225.4% in the 1st quarter. Royal Bank of Canada now owns 1,165 shares of the industrial products company’s stock valued at $105,000 after buying an additional 807 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Lindsay by 11.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 8,535 shares of the industrial products company’s stock valued at $828,000 after buying an additional 890 shares during the period. Hedge funds and other institutional investors own 98.65% of the company’s stock.

Lindsay Company Profile

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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