Wall Street analysts expect Lindsay Co. (NYSE:LNN) to post earnings per share (EPS) of $0.56 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Lindsay’s earnings, with estimates ranging from $0.53 to $0.60. Lindsay reported earnings of $0.47 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 19.1%. The company is scheduled to issue its next quarterly earnings report on Thursday, March 29th.
On average, analysts expect that Lindsay will report full year earnings of $3.05 per share for the current year, with EPS estimates ranging from $2.88 to $3.32. For the next financial year, analysts forecast that the company will report earnings of $3.74 per share, with EPS estimates ranging from $3.20 to $4.65. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Lindsay.
Lindsay (NYSE:LNN) last posted its earnings results on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The business had revenue of $124.53 million during the quarter, compared to analyst estimates of $117.11 million. During the same quarter in the prior year, the company earned $0.08 EPS. The company’s revenue was up 12.8% on a year-over-year basis.
In other news, Director Michael Nahl sold 7,200 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.43, for a total transaction of $622,296.00. Following the completion of the transaction, the director now directly owns 3,687 shares of the company’s stock, valued at approximately $318,667.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David B. Downing sold 21,816 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.11, for a total transaction of $1,878,575.76. The disclosure for this sale can be found here. Insiders sold a total of 55,281 shares of company stock valued at $4,763,339 over the last ninety days. 1.20% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in LNN. Flinton Capital Management LLC grew its position in shares of Lindsay by 72.7% during the 2nd quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 544 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Lindsay during the 2nd quarter valued at approximately $205,000. OxFORD Asset Management LLP bought a new position in shares of Lindsay during the 2nd quarter valued at approximately $219,000. Crossmark Global Holdings Inc. bought a new position in shares of Lindsay during the 3rd quarter valued at approximately $224,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Lindsay during the 3rd quarter valued at approximately $246,000. 94.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Lindsay (LNN) opened at $86.51 on Tuesday. Lindsay has a 52-week low of $73.34 and a 52-week high of $96.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.29 and a quick ratio of 2.24. The stock has a market cap of $941.34, a PE ratio of 36.35, a price-to-earnings-growth ratio of 1.92 and a beta of 0.36.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Tuesday, February 13th. Lindsay’s payout ratio is 50.42%.
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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