Brokerages Expect Lindsay Co. (NYSE:LNN) Will Announce Quarterly Sales of $112.44 Million

Wall Street brokerages predict that Lindsay Co. (NYSE:LNN) will post $112.44 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lindsay’s earnings. The lowest sales estimate is $109.80 million and the highest is $115.07 million. Lindsay reported sales of $111.95 million during the same quarter last year, which indicates a positive year over year growth rate of 0.4%. The business is expected to issue its next quarterly earnings report on Tuesday, January 14th.

On average, analysts expect that Lindsay will report full year sales of $471.04 million for the current year, with estimates ranging from $452.81 million to $501.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $479.65 million, with estimates ranging from $470.60 million to $488.70 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Lindsay.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.19. The firm had revenue of $101.90 million during the quarter, compared to analysts’ expectations of $105.53 million. Lindsay had a net margin of 0.49% and a return on equity of 5.75%. The company’s revenue for the quarter was down 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share.

Large investors have recently modified their holdings of the stock. Nuance Investments LLC lifted its position in Lindsay by 278.6% during the second quarter. Nuance Investments LLC now owns 960,790 shares of the industrial products company’s stock valued at $78,987,000 after purchasing an additional 707,014 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Lindsay by 19.4% during the 2nd quarter. Impax Asset Management Group plc now owns 875,379 shares of the industrial products company’s stock valued at $71,965,000 after acquiring an additional 141,988 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Lindsay during the 3rd quarter valued at $7,979,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Lindsay during the 1st quarter valued at $5,697,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Lindsay during the 2nd quarter valued at $3,857,000. 99.18% of the stock is owned by institutional investors and hedge funds.

NYSE:LNN traded up $0.32 on Thursday, hitting $93.55. The company had a trading volume of 56,278 shares, compared to its average volume of 59,610. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 64.52 and a beta of 0.30. The company has a current ratio of 3.82, a quick ratio of 2.69 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $91.10 and a two-hundred day moving average of $88.00. Lindsay has a 52 week low of $73.00 and a 52 week high of $99.89.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, November 14th. Lindsay’s payout ratio is 85.52%.

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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