$112.88 Million in Sales Expected for Lindsay Co. (LNN) This Quarter

Analysts expect Lindsay Co. (NYSE:LNN) to post sales of $112.88 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Lindsay’s earnings, with the lowest sales estimate coming in at $105.50 million and the highest estimate coming in at $120.25 million. Lindsay posted sales of $124.53 million during the same quarter last year, which suggests a negative year over year growth rate of 9.4%. The business is expected to report its next earnings report on Thursday, December 20th.

According to Zacks, analysts expect that Lindsay will report full year sales of $485.74 million for the current year, with estimates ranging from $482.40 million to $489.08 million. For the next fiscal year, analysts forecast that the business will report sales of $506.46 million, with estimates ranging from $502.73 million to $510.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Lindsay.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 18th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.38). The firm had revenue of $123.30 million during the quarter, compared to analyst estimates of $136.22 million. Lindsay had a net margin of 3.70% and a return on equity of 11.53%. The company’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS.

LNN has been the topic of several analyst reports. Stifel Nicolaus lowered their price objective on Lindsay from $94.00 to $91.00 and set a “hold” rating on the stock in a research note on Tuesday, September 4th. Zacks Investment Research lowered Lindsay from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. ValuEngine upgraded Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. Monness Crespi & Hardt set a $70.00 price objective on Lindsay and gave the company a “sell” rating in a research note on Wednesday, September 19th. Finally, Sidoti lowered Lindsay from a “buy” rating to a “neutral” rating and set a $111.00 price objective on the stock. in a research note on Tuesday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $96.25.

Lindsay stock traded up $0.97 during trading hours on Friday, hitting $97.02. The stock had a trading volume of 26,321 shares, compared to its average volume of 115,195. The company has a quick ratio of 3.14, a current ratio of 4.13 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 1.78 and a beta of 0.41. Lindsay has a fifty-two week low of $83.57 and a fifty-two week high of $109.50.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a $0.31 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.24 annualized dividend and a dividend yield of 1.28%. Lindsay’s dividend payout ratio is currently 42.18%.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Lindsay by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,148,589 shares of the industrial products company’s stock worth $115,133,000 after acquiring an additional 23,123 shares during the last quarter. Morgan Stanley grew its position in Lindsay by 19.8% during the 3rd quarter. Morgan Stanley now owns 38,892 shares of the industrial products company’s stock worth $3,898,000 after acquiring an additional 6,439 shares during the last quarter. Legal & General Group Plc grew its position in Lindsay by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 25,606 shares of the industrial products company’s stock worth $2,554,000 after acquiring an additional 1,816 shares during the last quarter. Teachers Advisors LLC grew its position in Lindsay by 30.9% during the 3rd quarter. Teachers Advisors LLC now owns 26,047 shares of the industrial products company’s stock worth $2,611,000 after acquiring an additional 6,150 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in Lindsay by 3.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 725,525 shares of the industrial products company’s stock worth $72,727,000 after acquiring an additional 27,100 shares during the last quarter. Institutional investors own 96.82% of the company’s stock.

About Lindsay

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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