Agricultural and farm machinery company Lindsay (NYSE: LNN) will be announcing earnings results this Thursday morning. Here’s what investors should know.
Lindsay beat analysts’ revenue expectations by 4% last quarter, reporting revenues of $187.1 million, up 23.5% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ organic revenue estimates and an impressive beat of analysts’ EPS estimates.
Is Lindsay a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lindsay’s revenue to grow 16.4% year on year to $162 million, a reversal from the 15.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.41 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lindsay has missed Wall Street’s revenue estimates four times over the last two years.
With Lindsay being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for heavy machinery stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.9% on average over the last month. Lindsay is down 1.1% during the same time and is heading into earnings with an average analyst price target of $139 (compared to the current share price of $138.22).
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