Zacks: Analysts Anticipate Lindsay Co. (LNN) Will Announce Earnings of $0.92 Per Share
Brokerages predict that Lindsay Co. (NYSE:LNN) will announce earnings of $0.92 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Lindsay’s earnings. The lowest EPS estimate is $0.79 and the highest is $1.04. Lindsay posted earnings per share of $0.90 in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The company is scheduled to report its next quarterly earnings results on Thursday, June 29th.
On average, analysts expect that Lindsay will report full-year earnings of $2.14 per share for the current year, with EPS estimates ranging from $1.90 to $2.50. For the next fiscal year, analysts forecast that the business will report earnings of $2.93 per share, with EPS estimates ranging from $2.45 to $3.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Lindsay.
Lindsay (NYSE:LNN) last posted its earnings results on Thursday, March 30th. The industrial products company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.07. Lindsay had a return on equity of 9.19% and a net margin of 2.81%. The company had revenue of $124.10 million for the quarter, compared to the consensus estimate of $119.12 million. During the same quarter in the previous year, the business earned ($0.37) earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis.
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and issued a $76.00 price target (up previously from $75.00) on shares of Lindsay in a report on Sunday, April 2nd. Zacks Investment Research upgraded Lindsay from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 21st. Finally, TheStreet upgraded Lindsay from a “c” rating to a “b” rating in a report on Thursday, March 30th. Four analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $76.75.
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In other Lindsay news, insider David B. Downing sold 5,000 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $87.33, for a total transaction of $436,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rick Parod sold 40,241 shares of the stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $85.58, for a total value of $3,443,824.78. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new stake in shares of Lindsay during the first quarter worth approximately $211,000. Searle & CO. bought a new stake in shares of Lindsay during the fourth quarter worth approximately $231,000. Norges Bank bought a new stake in shares of Lindsay during the fourth quarter worth approximately $1,047,000. Thrivent Financial for Lutherans boosted its stake in shares of Lindsay by 52.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 158,100 shares of the industrial products company’s stock worth $11,796,000 after buying an additional 54,640 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Lindsay by 8.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,351 shares of the industrial products company’s stock worth $101,000 after buying an additional 100 shares during the period.
Lindsay (NYSE:LNN) traded up 0.85% during midday trading on Thursday, reaching $84.99. The company’s stock had a trading volume of 24,140 shares. The firm has a market cap of $906.16 million, a price-to-earnings ratio of 38.97 and a beta of 0.74. The company has a 50 day moving average price of $82.55 and a 200 day moving average price of $79.25. Lindsay has a 1-year low of $65.78 and a 1-year high of $89.98.
Lindsay Company Profile
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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