Wall Street analysts expect that Lindsay Corporation (NYSE:LNN) will announce sales of $118.19 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Lindsay Corporation’s earnings. The lowest sales estimate is $116.65 million and the highest is $120.20 million. Lindsay Corporation reported sales of $110.39 million during the same quarter last year, which indicates a positive year over year growth rate of 7.1%. The company is expected to announce its next earnings report on Wednesday, December 20th.

According to Zacks, analysts expect that Lindsay Corporation will report full year sales of $118.19 million for the current financial year, with estimates ranging from $540.00 million to $547.90 million. For the next financial year, analysts expect that the business will post sales of $582.44 million per share, with estimates ranging from $574.67 million to $593.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Lindsay Corporation.

Lindsay Corporation (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 12th. The industrial products company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.41 by $0.18. The business had revenue of $131.94 million during the quarter, compared to analysts’ expectations of $134.83 million. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%.

A number of research firms have weighed in on LNN. BidaskClub downgraded Lindsay Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Piper Jaffray Companies set a $80.00 target price on Lindsay Corporation and gave the stock a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded Lindsay Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Sidoti reiterated a “buy” rating and set a $107.00 price objective (up previously from $100.00) on shares of Lindsay Corporation in a research report on Friday, July 7th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, October 12th. One 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’s stock. The company currently has a consensus rating of “Hold” and an average price target of $95.00.

Lindsay Corporation (NYSE:LNN) traded up 2.09% during mid-day trading on Tuesday, hitting $93.00. The stock had a trading volume of 15,247 shares. Lindsay Corporation has a 12-month low of $72.85 and a 12-month high of $95.04. The company has a 50-day moving average of $89.86 and a 200-day moving average of $88.01. The stock has a market cap of $994.82 million, a price-to-earnings ratio of 42.86 and a beta of 0.44.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.32%. Lindsay Corporation’s dividend payout ratio (DPR) is presently 55.56%.

In other news, insider Rick Parod sold 77,387 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $91.47, for a total value of $7,078,588.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Lindsay Corporation by 7,401.9% in the first quarter. BlackRock Inc. now owns 1,325,961 shares of the industrial products company’s stock worth $116,844,000 after acquiring an additional 1,308,286 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Lindsay Corporation by 2.2% in the second quarter. Vanguard Group Inc. now owns 1,014,967 shares of the industrial products company’s stock worth $90,586,000 after acquiring an additional 22,310 shares during the last quarter. Royce & Associates LP increased its stake in shares of Lindsay Corporation by 1.2% in the second quarter. Royce & Associates LP now owns 963,524 shares of the industrial products company’s stock worth $85,995,000 after acquiring an additional 11,600 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Lindsay Corporation by 2.7% in the second quarter. Renaissance Technologies LLC now owns 298,000 shares of the industrial products company’s stock worth $26,597,000 after acquiring an additional 7,900 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Lindsay Corporation by 3.8% in the second quarter. State Street Corp now owns 269,948 shares of the industrial products company’s stock worth $24,094,000 after acquiring an additional 9,763 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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About Lindsay Corporation

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 Corporation (NYSE:LNN)

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