Analysts expect that Lindsay Co. (NYSE:LNN) will post earnings per share of $0.34 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Lindsay’s earnings, with estimates ranging from $0.29 to $0.39. Lindsay posted earnings of $0.42 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 19%. The company is expected to announce its next 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 fiscal year, with EPS estimates ranging from $1.20 to $1.30. For the next fiscal year, analysts anticipate that the company will post earnings of $2.59 per share, with EPS estimates ranging from $2.56 to $2.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Lindsay.
Lindsay (NYSE:LNN) last issued its quarterly earnings data on Tuesday, July 9th. The industrial products company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.31). Lindsay had a net margin of 1.21% and a return on equity of 5.24%. The firm had revenue of $121.10 million during the quarter, compared to the consensus estimate of $128.63 million. During the same quarter in the prior year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was down 28.6% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the business. Oakworth Capital Inc. bought a new stake in shares of Lindsay in the 2nd quarter worth approximately $42,000. Bessemer Group Inc. purchased a new position in shares of Lindsay in the second quarter worth approximately $68,000. AdvisorNet Financial Inc increased its position in shares of Lindsay by 880.0% in the second quarter. AdvisorNet Financial Inc now owns 980 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 880 shares in the last quarter. Royal Bank of Canada increased its position in shares of Lindsay by 283.0% in the second quarter. Royal Bank of Canada now owns 1,919 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 1,418 shares in the last quarter. Finally, ETF Managers Group LLC purchased a new position in Lindsay during the second quarter valued at approximately $163,000. Institutional investors own 96.10% of the company’s stock.
Shares of LNN stock traded up $1.25 during midday trading on Wednesday, reaching $86.91. 921 shares of the company were exchanged, compared to its average volume of 100,804. Lindsay has a 12 month low of $73.00 and a 12 month high of $109.50. The company has a market cap of $960.96 million, a P/E ratio of 29.58 and a beta of 0.36. The company’s 50 day moving average price is $90.40 and its two-hundred day moving average price is $86.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.60 and a current ratio of 3.65.
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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