Lindsay Co. (NYSE:LNN) Expected to Announce Earnings of $0.79 Per Share

Wall Street analysts expect that Lindsay Co. (NYSE:LNN) will announce $0.79 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Lindsay’s earnings. The highest EPS estimate is $0.81 and the lowest is $0.77. Lindsay reported earnings per share of $0.49 during the same quarter last year, which would indicate a positive year over year growth rate of 61.2%. The company is scheduled to issue its next quarterly earnings report on Thursday, January 6th.

On average, analysts expect that Lindsay will report full-year earnings of $5.36 per share for the current fiscal year, with EPS estimates ranging from $4.62 to $6.30. For the next fiscal year, analysts forecast that the firm will report earnings of $5.62 per share, with EPS estimates ranging from $5.40 to $5.83. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Lindsay.

Lindsay (NYSE:LNN) last issued its earnings results on Wednesday, October 20th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.26). Lindsay had a net margin of 7.50% and a return on equity of 13.97%. The company had revenue of $153.65 million during the quarter, compared to analyst estimates of $141.88 million. During the same quarter in the previous year, the company posted $1.35 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis.

Several brokerages have recently issued reports on LNN. Zacks Investment Research cut shares of Lindsay from a “hold” rating to a “strong sell” rating and set a $124.00 target price for the company. in a report on Monday, October 25th. Stifel Nicolaus upgraded shares of Lindsay from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Friday, October 22nd.

In other news, Director Michael Nahl sold 800 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $162.82, for a total value of $130,256.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in LNN. Tompkins Financial Corp purchased a new position in Lindsay during the 3rd quarter valued at about $46,000. Advisor Group Holdings Inc. boosted its position in shares of Lindsay by 28.7% in the third quarter. Advisor Group Holdings Inc. now owns 691 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 154 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Lindsay by 17.1% in the second quarter. Van ECK Associates Corp now owns 861 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 126 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of Lindsay by 586.7% in the third quarter. AdvisorNet Financial Inc now owns 1,030 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 880 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Lindsay by 84.1% in the second quarter. Royal Bank of Canada now owns 1,031 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 471 shares during the last quarter. Institutional investors and hedge funds own 86.17% of the company’s stock.

Shares of Lindsay stock traded up $1.78 during trading hours on Thursday, hitting $159.35. The company had a trading volume of 20,360 shares, compared to its average volume of 58,159. The company’s 50-day moving average price is $156.03. Lindsay has a twelve month low of $111.05 and a twelve month high of $179.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.96 and a current ratio of 3.01. The firm has a market cap of $1.74 billion, a P/E ratio of 41.18 and a beta of 0.34.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 30th. Stockholders of record on Tuesday, November 16th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Monday, November 15th. Lindsay’s dividend payout ratio (DPR) is presently 34.11%.

About Lindsay

Lindsay Corp. provides proprietary water management and road infrastructure products and services. It operates its business through the following segments: Irrigation and Infrastructure. The Irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications.

Further Reading: Equity Income

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Earnings History and Estimates for Lindsay (NYSE:LNN)

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