$137.63 Million in Sales Expected for Lindsay Co. (LNN) This Quarter
Equities analysts expect Lindsay Co. (NYSE:LNN) to announce $137.63 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Lindsay’s earnings, with estimates ranging from $132.10 million to $143.16 million. Lindsay posted sales of $131.94 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The business is scheduled to issue its next earnings results before the market opens on Thursday, October 18th.
On average, analysts expect that Lindsay will report full year sales of $566.73 million for the current financial year, with estimates ranging from $556.60 million to $576.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $590.85 million, with estimates ranging from $563.00 million to $623.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Lindsay.
LNN has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on Lindsay from $94.00 to $91.00 and set a “hold” rating for the company in a report on Tuesday, September 4th. ValuEngine raised Lindsay from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Zacks Investment Research downgraded Lindsay from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Monness Crespi & Hardt set a $70.00 price objective on Lindsay and gave the company a “sell” rating in a report on Wednesday, September 19th. Finally, TheStreet raised Lindsay from a “c+” rating to a “b+” rating in a report on Thursday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $91.33.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Lindsay by 7.1% during the second quarter. BlackRock Inc. now owns 1,507,391 shares of the industrial products company’s stock worth $146,202,000 after purchasing an additional 99,369 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Lindsay by 2.4% during the second quarter. Renaissance Technologies LLC now owns 467,400 shares of the industrial products company’s stock worth $45,333,000 after purchasing an additional 10,900 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Lindsay by 1.1% during the second quarter. Voya Investment Management LLC now owns 370,635 shares of the industrial products company’s stock worth $35,948,000 after purchasing an additional 3,929 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lindsay by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 335,015 shares of the industrial products company’s stock worth $32,494,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Lindsay by 3.1% during the second quarter. Northern Trust Corp now owns 144,373 shares of the industrial products company’s stock worth $14,003,000 after purchasing an additional 4,395 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.
Shares of LNN stock traded up $2.09 during trading hours on Friday, hitting $92.61. The stock had a trading volume of 71,472 shares, compared to its average volume of 81,644. The company has a market capitalization of $1.07 billion, a P/E ratio of 42.68, a PEG ratio of 1.56 and a beta of 0.30. Lindsay has a twelve month low of $83.57 and a twelve month high of $105.00. The company has a current ratio of 3.55, a quick ratio of 2.71 and a debt-to-equity ratio of 0.42.
Lindsay Company Profile
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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