Equities research analysts expect Lindsay Co. (NYSE:LNN) to announce $136.87 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Lindsay’s earnings, with the lowest sales estimate coming in at $133.85 million and the highest estimate coming in at $139.90 million. Lindsay posted sales of $169.57 million in the same quarter last year, which suggests a negative year over year growth rate of 19.3%. The company is scheduled to issue its next quarterly earnings report on Thursday, June 27th.
According to Zacks, analysts expect that Lindsay will report full-year sales of $472.03 million for the current fiscal year, with estimates ranging from $459.58 million to $484.00 million. For the next financial year, analysts anticipate that the business will report sales of $500.79 million, with estimates ranging from $472.48 million to $533.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Lindsay.
Lindsay (NYSE:LNN) last announced its quarterly earnings results on Tuesday, April 9th. The industrial products company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.60). Lindsay had a net margin of 2.55% and a return on equity of 9.72%. The business had revenue of $109.20 million during the quarter, compared to the consensus estimate of $115.43 million. During the same period in the previous year, the business posted $0.56 EPS. The firm’s revenue was down 16.2% on a year-over-year basis.
A number of research analysts recently commented on LNN shares. ValuEngine downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Boenning Scattergood downgraded shares of Lindsay from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research raised shares of Lindsay from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $102.60.
Shares of NYSE:LNN opened at $78.87 on Wednesday. The company has a quick ratio of 2.63, a current ratio of 3.85 and a debt-to-equity ratio of 0.43. Lindsay has a 12 month low of $76.35 and a 12 month high of $109.50. The stock has a market capitalization of $854.57 million, a P/E ratio of 26.83 and a beta of 0.32.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, May 16th. Lindsay’s dividend payout ratio (DPR) is currently 42.18%.
Institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Lindsay by 101.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 527 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Lindsay during the first quarter worth about $268,000. Voya Investment Management LLC increased its stake in shares of Lindsay by 28.3% during the first quarter. Voya Investment Management LLC now owns 262,865 shares of the industrial products company’s stock worth $25,443,000 after purchasing an additional 57,987 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lindsay by 7.7% during the first quarter. Geode Capital Management LLC now owns 123,957 shares of the industrial products company’s stock worth $11,997,000 after purchasing an additional 8,811 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Lindsay by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 103,114 shares of the industrial products company’s stock worth $9,981,000 after acquiring an additional 6,267 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors.
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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