Brokerages Expect Lindsay Co. (LNN) to Post $0.56 EPS

Wall Street brokerages expect Lindsay Co. (NYSE:LNN) to report earnings per share of $0.56 for the current quarter, Zacks reports. Four analysts have provided estimates for Lindsay’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.60. Lindsay reported earnings per share of $0.47 in the same quarter last year, which suggests a positive year-over-year growth rate of 19.1%. The firm is expected to issue its next quarterly earnings report on Thursday, March 29th.

According to Zacks, analysts expect that Lindsay will report full-year earnings of $3.09 per share for the current fiscal year, with EPS estimates ranging from $2.88 to $3.32. For the next year, analysts forecast that the business will post earnings of $3.82 per share, with EPS estimates ranging from $3.56 to $4.65. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Lindsay.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The company had revenue of $124.53 million for the quarter, compared to the consensus estimate of $117.11 million. During the same period in the previous year, the business earned $0.08 EPS. Lindsay’s revenue for the quarter was up 12.8% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the company. TheStreet downgraded Lindsay from a “b-” rating to a “c” rating in a research report on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and issued a $91.00 price target on shares of Lindsay in a report on Thursday, December 14th. Finally, Zacks Investment Research downgraded Lindsay from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $95.25.

In other Lindsay 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 value of $72,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Nahl sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $86.43, for a total value of $622,296.00. Following the completion of the sale, the director now directly owns 3,687 shares of the company’s stock, valued at approximately $318,667.41. The disclosure for this sale can be found here. In the last three months, insiders sold 58,281 shares of company stock valued at $5,033,499. Corporate insiders own 3.10% of the company’s stock.

Several large investors have recently made changes to their positions in LNN. TIAA CREF Investment Management LLC raised its stake in shares of Lindsay by 0.8% in the second quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock worth $2,550,000 after purchasing an additional 238 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Lindsay by 6.2% in the second quarter. New York State Common Retirement Fund now owns 11,900 shares of the industrial products company’s stock worth $1,062,000 after purchasing an additional 699 shares during the last quarter. Northern Trust Corp raised its stake in shares of Lindsay by 2.1% in the second quarter. Northern Trust Corp now owns 142,895 shares of the industrial products company’s stock worth $12,754,000 after purchasing an additional 2,976 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Lindsay by 2.2% in the second quarter. Vanguard Group Inc. now owns 1,014,967 shares of the industrial products company’s stock worth $90,586,000 after purchasing an additional 22,310 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Lindsay by 3.8% in the second quarter. State Street Corp now owns 269,948 shares of the industrial products company’s stock worth $24,094,000 after purchasing an additional 9,763 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Shares of Lindsay (NYSE LNN) opened at $91.27 on Friday. Lindsay has a 12-month low of $78.50 and a 12-month high of $96.22. The firm has a market capitalization of $981.22, a PE ratio of 38.35, a P/E/G ratio of 1.97 and a beta of 0.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.24 and a current ratio of 3.29.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.31%. The ex-dividend date is Tuesday, February 13th. Lindsay’s dividend payout ratio is presently 50.42%.

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About Lindsay

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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Earnings History and Estimates for Lindsay (NYSE:LNN)

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