Analysts expect Lindsay Manufacturing (NYSE:LNN) to announce sales of $165.95 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Lindsay Manufacturing’s earnings, with the lowest sales estimate coming in at $159.10 million and the highest estimate coming in at $173.30 million. Lindsay Manufacturing posted sales of $151.53 million in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 5th.
On average, analysts expect that Lindsay Manufacturing will report full year sales of $566.41 million for the current financial year, with estimates ranging from $550.00 million to $582.90 million. For the next year, analysts forecast that the firm will post sales of $593.26 million per share, with estimates ranging from $580.00 million to $601.22 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lindsay Manufacturing.
Lindsay Manufacturing (NYSE:LNN) last issued its earnings results on Thursday, March 29th. The industrial products company reported $0.56 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. Lindsay Manufacturing had a return on equity of 9.84% and a net margin of 4.13%. The company had revenue of $130.30 million during the quarter, compared to the consensus estimate of $133.05 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year.
A number of research analysts recently commented on the company. Seaport Global Securities reissued a “neutral” rating on shares of Lindsay Manufacturing in a report on Tuesday, April 10th. Stifel Nicolaus increased their price target on Lindsay Manufacturing from $92.00 to $94.00 and gave the company a “hold” rating in a report on Monday, April 2nd. Boenning Scattergood raised Lindsay Manufacturing from a “neutral” rating to an “outperform” rating in a report on Thursday, March 29th. Finally, TheStreet downgraded Lindsay Manufacturing from a “b-” rating to a “c” rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Lindsay Manufacturing currently has a consensus rating of “Hold” and an average price target of $96.00.
Shares of LNN opened at $89.35 on Tuesday. The stock has a market capitalization of $947.45, a P/E ratio of 41.18 and a beta of 0.31. Lindsay Manufacturing has a one year low of $82.31 and a one year high of $100.40. The company has a quick ratio of 2.01, a current ratio of 3.00 and a debt-to-equity ratio of 0.43.
In related news, Director Bill Welsh sold 800 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $90.20, for a total value of $72,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in LNN. Elkfork Partners LLC acquired a new stake in shares of Lindsay Manufacturing during the 4th quarter worth approximately $136,000. Jane Street Group LLC acquired a new stake in shares of Lindsay Manufacturing during the 4th quarter worth approximately $248,000. Teacher Retirement System of Texas acquired a new stake in shares of Lindsay Manufacturing during the 4th quarter worth approximately $327,000. MetLife Investment Advisors LLC acquired a new stake in shares of Lindsay Manufacturing during the 4th quarter worth approximately $405,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Lindsay Manufacturing during the 4th quarter worth approximately $503,000. Hedge funds and other institutional investors own 92.01% of the company’s stock.
Lindsay Manufacturing Company Profile
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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