Wall Street brokerages expect Lindsay Co. (NYSE:LNN) to announce earnings of $0.31 per share for the current quarter, Zacks reports. Two analysts have made estimates for Lindsay’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.26. Lindsay reported earnings of $0.42 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 26.2%. The business is scheduled to report its next quarterly earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Lindsay will report full year earnings of $1.25 per share for the current year, with EPS estimates ranging from $1.20 to $1.30. For the next financial year, analysts forecast that the company will post earnings of $2.64 per share, with EPS estimates ranging from $2.60 to $2.71. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Lindsay.
Lindsay (NYSE:LNN) last issued its quarterly earnings results on Tuesday, July 9th. The industrial products company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.31). Lindsay had a return on equity of 5.24% and a net margin of 1.21%. The business had revenue of $121.10 million for the quarter, compared to analysts’ expectations of $128.63 million. During the same quarter in the previous year, the firm posted $1.66 EPS. Lindsay’s revenue was down 28.6% on a year-over-year basis.
LNN has been the topic of a number of research analyst reports. ValuEngine upgraded Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, July 9th. Boenning Scattergood lowered Lindsay from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $102.60.
Shares of LNN stock traded up $1.63 during trading hours on Friday, reaching $89.35. 75,400 shares of the company’s stock were exchanged, compared to its average volume of 74,914. Lindsay has a 1 year low of $73.00 and a 1 year high of $109.50. The stock has a market cap of $933.66 million, a PE ratio of 30.39 and a beta of 0.33. The company has a current ratio of 3.65, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $87.17 and its two-hundred day moving average price is $86.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.31 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.24 dividend on an annualized basis and a yield of 1.39%. Lindsay’s dividend payout ratio is currently 42.18%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aperio Group LLC boosted its position in Lindsay by 2.4% in the second quarter. Aperio Group LLC now owns 5,223 shares of the industrial products company’s stock valued at $429,000 after buying an additional 120 shares during the last quarter. Prudential Financial Inc. boosted its position in Lindsay by 0.7% in the second quarter. Prudential Financial Inc. now owns 17,651 shares of the industrial products company’s stock valued at $1,451,000 after buying an additional 120 shares during the last quarter. Mason Street Advisors LLC boosted its position in Lindsay by 3.7% in the first quarter. Mason Street Advisors LLC now owns 3,464 shares of the industrial products company’s stock valued at $335,000 after buying an additional 123 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in Lindsay by 6.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 2,723 shares of the industrial products company’s stock valued at $264,000 after buying an additional 164 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Lindsay by 0.7% in the first quarter. Rhumbline Advisers now owns 30,762 shares of the industrial products company’s stock valued at $2,977,000 after buying an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.
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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