Agricultural and farm machinery company Lindsay (NYSE:LNN) will be reporting results tomorrow before market open. Here’s what investors should know.
Lindsay beat analysts’ revenue expectations by 6.5% last quarter, reporting revenues of $155 million, down 7.3% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income 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 5.2% year on year to $169.8 million, a reversal from the 8.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.40 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 six 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, the whole sector has been hit hard over the last month as stocks in Lindsay’s peer group are down 5.8% on average. Lindsay is down 8.7% during the same time and is heading into earnings with an average analyst price target of $132 (compared to the current share price of $118.88).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.
