Equities analysts predict that Lindsay Co. (NYSE:LNN) will post sales of $131.71 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Lindsay’s earnings, with the lowest sales estimate coming in at $131.30 million and the highest estimate coming in at $132.40 million. Lindsay posted sales of $124.13 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The company is scheduled to report its next quarterly earnings results on Thursday, March 29th.
According to Zacks, analysts expect that Lindsay will report full-year sales of $131.71 million for the current financial year, with estimates ranging from $540.70 million to $569.40 million. For the next financial year, analysts expect that the business will post sales of $589.84 million per share, with estimates ranging from $580.00 million to $598.49 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Lindsay.
Lindsay (NYSE:LNN) last announced its earnings results on Thursday, December 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.06). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The company had revenue of $124.53 million during the quarter, compared to analysts’ expectations of $117.11 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis.
Lindsay (NYSE:LNN) opened at $90.56 on Thursday. Lindsay has a 1 year low of $73.34 and a 1 year high of $96.22. The stock has a market cap of $927.51, a price-to-earnings ratio of 38.05, a P/E/G ratio of 1.89 and a beta of 0.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.29 and a quick ratio of 2.24.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, February 13th. Lindsay’s dividend payout ratio is presently 50.42%.
In other Lindsay news, Director Bill Welsh sold 800 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $90.20, for a total value of $72,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Nahl sold 7,200 shares of the business’s 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 completion of the sale, the director now directly owns 3,687 shares of the company’s stock, valued at $318,667.41. The disclosure for this sale can be found here. Insiders sold 58,281 shares of company stock valued at $5,033,499 over the last three months. 1.20% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Lindsay 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 purchasing an additional 22,310 shares during the last quarter. Royce & Associates LP lifted its stake in Lindsay by 0.7% in the third quarter. Royce & Associates LP now owns 970,117 shares of the industrial products company’s stock worth $89,154,000 after purchasing an additional 6,593 shares during the last quarter. Impax Asset Management LTD lifted its stake in Lindsay by 5.8% in the third quarter. Impax Asset Management LTD now owns 495,868 shares of the industrial products company’s stock worth $45,570,000 after purchasing an additional 27,117 shares during the last quarter. State Street Corp lifted its stake in Lindsay 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 purchasing an additional 9,763 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Lindsay by 2.1% in the second quarter. Northern Trust Corp now owns 142,895 shares of the industrial products company’s stock worth $12,754,000 after purchasing an additional 2,976 shares during the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.
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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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