$131.71 Million in Sales Expected for Lindsay Co. (LNN) This Quarter
Wall Street brokerages predict that Lindsay Co. (NYSE:LNN) will announce $131.71 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Lindsay’s earnings. The highest sales estimate is $132.40 million and the lowest is $131.30 million. Lindsay posted sales of $124.13 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The firm is scheduled to report its next earnings report on Thursday, March 29th.
According to Zacks, analysts expect that Lindsay will report full-year sales of $131.71 million for the current fiscal year, with estimates ranging from $540.70 million to $569.40 million. For the next year, analysts anticipate that the firm will report sales of $589.84 million per share, with estimates ranging from $580.00 million to $598.49 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Lindsay.
Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). The company had revenue of $124.53 million during the quarter, compared to analyst estimates of $117.11 million. Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS.
Shares of Lindsay (NYSE:LNN) opened at $88.97 on Friday. The company has a quick ratio of 2.24, a current ratio of 3.29 and a debt-to-equity ratio of 0.43. The firm has a market cap of $949.70, a P/E ratio of 37.38, a P/E/G ratio of 1.94 and a beta of 0.50. Lindsay has a fifty-two week low of $73.34 and a fifty-two week high of $96.22.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, February 13th. Lindsay’s dividend payout ratio is presently 50.42%.
In other Lindsay news, EVP David B. Downing sold 21,816 shares of Lindsay stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $86.11, for a total transaction of $1,878,575.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Nahl sold 7,200 shares of Lindsay stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $86.43, for a total transaction of $622,296.00. Following the sale, the director now directly owns 3,687 shares of the company’s stock, valued at approximately $318,667.41. The disclosure for this sale can be found here. Insiders have sold a total of 55,281 shares of company stock valued at $4,763,339 in the last ninety days. Company insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flinton Capital Management LLC boosted its position in shares of Lindsay by 72.7% during the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock worth $115,000 after purchasing an additional 544 shares in the last quarter. Acrospire Investment Management LLC boosted its position in shares of Lindsay by 467.1% during the second quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 1,177 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Lindsay by 27.2% during the second quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 362 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Lindsay during the second quarter worth $205,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Lindsay during the third quarter worth $224,000. 94.23% of the stock is owned by hedge funds and other institutional investors.
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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