Gabelli Comments on Lindsay Co.’s FY2017 Earnings (LNN)

Lindsay Co. (NYSE:LNN) – Investment analysts at Gabelli cut their FY2017 EPS estimates for shares of Lindsay in a research report issued on Monday, Zacks Investment Research reports. Gabelli analyst J. Garza now anticipates that the industrial products company will earn $2.50 per share for the year, down from their prior estimate of $3.00. Gabelli also issued estimates for Lindsay’s FY2018 earnings at $3.30 EPS, FY2019 earnings at $4.30 EPS, FY2020 earnings at $5.05 EPS and FY2021 earnings at $5.40 EPS.

Other analysts have also issued research reports about the company. TheStreet raised Lindsay from a “c” rating to a “b” rating in a research note on Thursday, March 30th. Stifel Nicolaus reiterated a “hold” rating and set a $76.00 target price (up from $75.00) on shares of Lindsay in a research report on Sunday, April 2nd. Finally, Zacks Investment Research upgraded Lindsay from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 21st. Four investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $76.75.

Earnings History and Estimates for Lindsay (NYSE:LNN)

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Shares of Lindsay (NYSE:LNN) traded up 0.28% during trading on Wednesday, hitting $86.85. 35,321 shares of the company traded hands. The stock has a market capitalization of $925.99 million, a PE ratio of 39.82 and a beta of 0.74. The company has a 50-day moving average of $82.93 and a 200-day moving average of $79.42. Lindsay has a 52-week low of $65.78 and a 52-week high of $89.98.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, March 30th. The industrial products company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.07. The firm earned $124.10 million during the quarter, compared to analyst estimates of $119.12 million. Lindsay had a net margin of 2.81% and a return on equity of 9.19%. Lindsay’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted ($0.37) EPS.

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in Lindsay by 4.0% in the third quarter. Rhumbline Advisers now owns 17,434 shares of the industrial products company’s stock worth $1,290,000 after buying an additional 675 shares during the period. BlackRock Fund Advisors increased its position in Lindsay by 5.8% in the third quarter. BlackRock Fund Advisors now owns 739,857 shares of the industrial products company’s stock worth $54,735,000 after buying an additional 40,251 shares during the period. BlackRock Inc. increased its position in Lindsay by 2.7% in the third quarter. BlackRock Inc. now owns 18,468 shares of the industrial products company’s stock worth $1,367,000 after buying an additional 481 shares during the period. Great Lakes Advisors LLC increased its position in Lindsay by 74.8% in the third quarter. Great Lakes Advisors LLC now owns 117,425 shares of the industrial products company’s stock worth $8,687,000 after buying an additional 50,252 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Lindsay by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 10,175 shares of the industrial products company’s stock worth $753,000 after buying an additional 1,782 shares during the period.

In related news, insider Rick Parod sold 40,241 shares of the stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $85.58, for a total transaction of $3,443,824.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David B. Downing sold 5,000 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $87.33, for a total value of $436,650.00. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

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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