Equities research analysts expect Lindsay Co. (NYSE:LNN) to announce earnings of $0.98 per share for the current quarter, according to Zacks. Four analysts have made estimates for Lindsay’s earnings. The lowest EPS estimate is $0.86 and the highest is $1.11. Lindsay posted earnings per share of $0.59 during the same quarter last year, which would suggest a positive year-over-year growth rate of 66.1%. The company is scheduled to announce its next earnings report on Thursday, October 11th.
On average, analysts expect that Lindsay will report full-year earnings of $3.21 per share for the current financial year, with EPS estimates ranging from $3.07 to $3.40. For the next financial year, analysts anticipate that the firm will report earnings of $3.76 per share, with EPS estimates ranging from $3.50 to $4.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Lindsay.
Lindsay (NYSE:LNN) last posted its earnings results on Thursday, June 28th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.27. Lindsay had a net margin of 3.89% and a return on equity of 12.26%. The firm had revenue of $169.60 million during the quarter, compared to analysts’ expectations of $167.57 million. During the same period in the previous year, the business posted $1.02 EPS. The business’s revenue was up 11.9% compared to the same quarter last year.
Several research firms recently issued reports on LNN. Zacks Investment Research upgraded shares of Lindsay from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research note on Wednesday, May 30th. ValuEngine upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. TheStreet upgraded shares of Lindsay from a “c+” rating to a “b+” rating in a research report on Thursday. Boenning Scattergood upgraded shares of Lindsay from a “neutral” rating to an “outperform” rating in a research report on Thursday, March 29th. Finally, Stifel Nicolaus upped their price objective on shares of Lindsay from $92.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $98.25.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Lindsay by 2.8% during the first quarter. BlackRock Inc. now owns 1,408,022 shares of the industrial products company’s stock worth $128,750,000 after buying an additional 38,720 shares in the last quarter. Impax Asset Management LTD grew its holdings in shares of Lindsay by 15.4% during the fourth quarter. Impax Asset Management LTD now owns 572,211 shares of the industrial products company’s stock worth $50,469,000 after buying an additional 76,343 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Lindsay by 31.9% during the fourth quarter. Renaissance Technologies LLC now owns 448,800 shares of the industrial products company’s stock worth $39,584,000 after buying an additional 108,500 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lindsay by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 332,845 shares of the industrial products company’s stock worth $30,435,000 after buying an additional 25,250 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Lindsay by 29.7% during the first quarter. Thrivent Financial for Lutherans now owns 221,757 shares of the industrial products company’s stock worth $20,278,000 after buying an additional 50,837 shares in the last quarter. 91.36% of the stock is owned by institutional investors and hedge funds.
Shares of Lindsay traded down $1.22, hitting $96.99, during trading hours on Friday, according to Marketbeat Ratings. The stock had a trading volume of 181,233 shares, compared to its average volume of 89,542. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.55 and a quick ratio of 2.01. Lindsay has a fifty-two week low of $83.57 and a fifty-two week high of $103.03. The stock has a market cap of $1.05 billion, a P/E ratio of 44.70, a P/E/G ratio of 1.73 and a beta of 0.36.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 17th will be given a dividend of $0.31 per share. The ex-dividend date is Thursday, August 16th. This is a boost from Lindsay’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.28%. Lindsay’s dividend payout ratio is currently 55.30%.
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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