Wall Street brokerages expect that Lindsay Co. (NYSE:LNN) will announce sales of $144.81 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lindsay’s earnings. The lowest sales estimate is $143.5 million and the highest is $148.4 million. Lindsay posted sales of $141.32 million during the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The company is scheduled to announce its next quarterly earnings report on Thursday, June 29th.
On average, analysts expect that Lindsay will report full year sales of $144.81 million for the current financial year, with estimates ranging from $507.5 million to $520 million. For the next year, analysts forecast that the business will post sales of $542.78 million per share, with estimates ranging from $521.74 million to $552.6 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Lindsay.
Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, March 30th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.07. Lindsay had a net margin of 2.81% and a return on equity of 9.19%. The business had revenue of $124.10 million during the quarter, compared to the consensus estimate of $119.12 million. During the same period in the prior year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year.
A number of analysts have recently commented on the stock. TheStreet upgraded shares of Lindsay from a “c” rating to a “b” rating in a research note on Thursday, March 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $76.00 price target (up from $75.00) on shares of Lindsay in a research note on Sunday, April 2nd. Finally, Zacks Investment Research upgraded shares of Lindsay from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 21st. Four analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $76.75.
In related news, insider Rick Parod sold 40,241 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $85.58, for a total value of $3,443,824.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David B. Downing sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $87.33, for a total transaction of $436,650.00. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of LNN. Ladenburg Thalmann Financial Services Inc. increased its position in Lindsay by 8.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,351 shares of the industrial products company’s stock worth $101,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue increased its position in Lindsay by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,170 shares of the industrial products company’s stock worth $103,000 after buying an additional 20 shares during the last quarter. US Bancorp DE increased its position in Lindsay by 100.0% in the first quarter. US Bancorp DE now owns 1,800 shares of the industrial products company’s stock worth $159,000 after buying an additional 900 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Lindsay by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,390 shares of the industrial products company’s stock worth $177,000 after buying an additional 40 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Lindsay during the first quarter worth about $211,000.
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Shares of Lindsay (NYSE:LNN) traded down 2.06% during midday trading on Friday, reaching $86.17. 20,741 shares of the company’s stock were exchanged. The stock has a market capitalization of $918.74 million, a P/E ratio of 39.51 and a beta of 0.74. The firm has a 50-day moving average of $85.08 and a 200-day moving average of $80.51. Lindsay has a 12-month low of $65.78 and a 12-month high of $89.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, May 15th. Lindsay’s payout ratio is 86.57%.
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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