Lindsay, an agricultural and farm equipment manufacturer (listed as LNY on NYSE), is set to release its earnings report this coming Thursday morning. Investors ought to keep these key points in mind.
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.
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Analysts anticipate that this quarter, Lindsay will see a revenue increase of 16.4%, reaching $162 million compared to the 15.4% decline reported during the equivalent period in the previous year. They also forecast adjusted earnings to be around $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.
As Lindsay leads its peer group in reporting quarterly earnings this season, there’s nowhere else to turn for insights into how heavy machinery stocks might perform. Nonetheless, the sector has seen optimistic investor attitudes, with share prices climbing by an average of 2.9% over the past month. During this period, Lindsay has experienced a slight dip of 1.1%, and it enters the earnings announcement phase with analysts projecting an average price target of $139 per share, just slightly above its current market value of $138.22.
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