Analysts expect Lindsay Manufacturing (NYSE:LNN) to report earnings of $1.39 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Lindsay Manufacturing’s earnings, with the highest EPS estimate coming in at $1.48 and the lowest estimate coming in at $1.35. Lindsay Manufacturing posted earnings per share of $1.02 in the same quarter last year, which indicates a positive year over year growth rate of 36.3%. The company is scheduled to issue its next earnings report on Thursday, July 5th.
According to Zacks, analysts expect that Lindsay Manufacturing will report full-year earnings of $3.08 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $3.44. For the next fiscal year, analysts anticipate that the business will report earnings of $4.00 per share, with EPS estimates ranging from $3.74 to $4.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Lindsay Manufacturing.
Lindsay Manufacturing (NYSE:LNN) last released its quarterly earnings data on Thursday, March 29th. The industrial products company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $133.05 million. Lindsay Manufacturing had a return on equity of 9.84% and a net margin of 4.13%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS.
LNN has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Lindsay Manufacturing from $92.00 to $94.00 and gave the company a “hold” rating in a report on Monday, April 2nd. Seaport Global Securities reiterated a “hold” rating on shares of Lindsay Manufacturing in a report on Monday, April 2nd. Boenning Scattergood upgraded 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 given a hold rating and two have issued a buy rating to the stock. Lindsay Manufacturing presently has an average rating of “Hold” and a consensus price target of $96.00.
In related news, Director Bill Welsh sold 800 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $90.20, for a total transaction of $72,160.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Lindsay Manufacturing by 2.0% during the 4th quarter. BlackRock Inc. now owns 1,369,302 shares of the industrial products company’s stock worth $120,773,000 after purchasing an additional 26,803 shares during the last quarter. Impax Asset Management LTD increased its holdings in Lindsay Manufacturing by 15.4% during the 4th quarter. Impax Asset Management LTD now owns 572,211 shares of the industrial products company’s stock worth $50,469,000 after purchasing an additional 76,343 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Lindsay Manufacturing by 31.9% during the 4th quarter. Renaissance Technologies LLC now owns 448,800 shares of the industrial products company’s stock worth $39,584,000 after purchasing an additional 108,500 shares during the last quarter. Geode Capital Management LLC increased its holdings in Lindsay Manufacturing by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 91,604 shares of the industrial products company’s stock worth $8,079,000 after purchasing an additional 5,396 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Lindsay Manufacturing by 97.2% during the 4th quarter. Deutsche Bank AG now owns 88,338 shares of the industrial products company’s stock worth $7,789,000 after purchasing an additional 43,538 shares during the last quarter. Institutional investors own 92.01% of the company’s stock.
Shares of NYSE LNN traded down $0.14 during midday trading on Friday, hitting $91.73. The stock had a trading volume of 26,099 shares, compared to its average volume of 90,351. The firm has a market capitalization of $982.29, a P/E ratio of 42.34 and a beta of 0.31. Lindsay Manufacturing has a 1-year low of $82.31 and a 1-year high of $100.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.00 and a quick ratio of 2.01.
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About Lindsay Manufacturing
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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