Lindsay Corporation (LNN) Expected to Announce Quarterly Sales of $118.19 Million

Equities analysts predict that Lindsay Corporation (NYSE:LNN) will announce $118.19 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Lindsay’s earnings, with the lowest sales estimate coming in at $116.65 million and the highest estimate coming in at $120.20 million. Lindsay reported sales of $110.39 million in the same quarter last year, which indicates a positive year over year growth rate of 7.1%. The firm is expected to issue its next quarterly earnings results on Wednesday, December 20th.

On average, analysts expect that Lindsay 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 year, analysts forecast that the firm will report sales of $582.44 million per share, with estimates ranging from $574.67 million to $593.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Lindsay.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, October 12th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.18. Lindsay had a net margin of 4.47% and a return on equity of 8.95%. The company had revenue of $131.94 million during the quarter, compared to the consensus estimate of $134.83 million.

A number of equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Lindsay from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Piper Jaffray Companies set a $80.00 price objective on shares of Lindsay and gave the stock a “hold” rating in a report on Saturday, August 5th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay in a report on Thursday, October 12th. TheStreet downgraded shares of Lindsay from a “b” rating to a “c+” rating in a report on Thursday, October 12th. Finally, Stifel Nicolaus boosted their price target on shares of Lindsay from $76.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, October 13th. One 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $95.00.

Shares of Lindsay (NYSE LNN) opened at $93.83 on Friday. The company has a market cap of $1,008.73, a price-to-earnings ratio of 43.66, a price-to-earnings-growth ratio of 2.13 and a beta of 0.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.18 and a quick ratio of 2.25. Lindsay has a 12 month low of $72.85 and a 12 month high of $96.22.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, November 15th. Lindsay’s dividend payout ratio (DPR) is presently 55.56%.

Institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System increased its holdings in Lindsay by 5.3% in the 3rd quarter. California Public Employees Retirement System now owns 28,438 shares of the industrial products company’s stock worth $2,613,000 after buying an additional 1,438 shares in the last quarter. Magnetar Financial LLC bought a new stake in Lindsay in the 3rd quarter worth about $626,000. Royce & Associates LP increased its holdings in Lindsay by 0.7% in the 3rd quarter. Royce & Associates LP now owns 970,117 shares of the industrial products company’s stock worth $89,154,000 after buying an additional 6,593 shares in the last quarter. OxFORD Asset Management LLP increased its holdings in Lindsay by 659.5% in the 3rd quarter. OxFORD Asset Management LLP now owns 18,645 shares of the industrial products company’s stock worth $1,711,000 after buying an additional 16,190 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Lindsay by 7.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 79,352 shares of the industrial products company’s stock worth $7,293,000 after buying an additional 5,184 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

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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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