Lindsay Corporation [NYSE:LNN] will report earnings after markets close on Thursday, January 7th.
LNN Earnings Forecast For The Current Quarter
Lindsay Corporation [LNN] is expected to report weak earnings results for the quarter ending on Nov 2020. Consensus estimates give the company expected revenues of $113.07M and an earnings per share of $0.75 for Nov 2020. Looking further ahead, the company is expected to report revenue of $122.6M at an EPS of $0.72 for Feb 2021. The estimates represent 5.00% and 17.80% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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LNN Earnings Estimates For The Current Year
For the financial year, Lindsay Corporation [NYSE:LNN] is expected to bring in revenue of $478.66M. The returns are nearly $3.97 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 3.2, lower than that of FY20 by -$0.36. Estimates put this year’s earnings growth at -10.10%, 17.80% for the next, and at an annual 22.90% over the next 5-year period. As for sales, forecasts are for an increase of 0.80% in the current fiscal year and a further 5.00% over the following year.
LNN Price Performance
On Wall Street, Lindsay Corporation [NYSE:LNN] finished Tuesday’s session up 2.02% at $130.05. The stock went up to $132.44 at the same session while its lowest single day price was $127.47. In the last five days, it saw a rise of about 2.64%, Lindsay Corporation shares gained by almost 1.24% since the beginning of the year. However, the share price has dropped to as low as -0.27% below its one year high. On 01/05/21, the company shares recorded $132.44, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $126.70. The company’s shares have inclined by 36.64% in the past year. The 50-day SMA achieved is $117.76 while the 200-day SMA is $101.31. Volume gained to 55402.0 from 36000.0 in the previous session.
Lindsay Corporation [LNN] Valuation Measures
Notably, Lindsay Corporation [LNN] stock cannot be classified as a good candidate in the listing of underestimated low-priced Farm & Heavy Construction Machinery companies to purchase soonest possible with the prevailing 12-month PE ratio of 36.72. The measure means the stock is exchanging at a premium as compared to the 20.12x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 2.94 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.80 which means LNN serve an unattractive investment opportunity compared to its competitors.
LNN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 127.53 level, and in case of violation of this particular level, it will cause more drop to 125.02 level. On the upper level, 134.96 is still the key resistance. The stock may increase to the subsequent resistance at 132.50. The Relative Strength Index (RSI) pinned on the 14-day chart is 72.53, implying a overbought technical stance while the MACD stands at 2.27, meaning price will increase in the next trading period. Percent R indicator moved to 19.67%, implying bullish price movement. Stochastic %K at 80.21% suggest selling the stock.
Is Lindsay Corporation [NYSE:LNN] a Good Buy Right Now?
It should be noted that LNN technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Lindsay Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 72365.0 shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 61054.0 shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 54994.0 shares.
What is the short interest in Lindsay Corporation?
Short interest in the Lindsay Corporation stock has surged, increasing by 30510.0 shares to total 0.3 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.33 million, data from Yahoo Finance shows. The decrease of -10.27% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 3.80% of the overall float for the stock.
Lindsay Corporation’s Biggest Shareholders: Who Owns Lindsay Corporation [LNN]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 1,482,012 shares or roughly 13.64% of the outstanding LNN shares. This means their shares have reduced by -21,309 from the 1,482,012 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $133,179,565. Details in the latest 13F filings reveal that Royce & Associates LP disposed off their -1.92% stake valued at $90,823,264 while Neuberger Berman Investment Advis cut theirs at $77,338,805. During the last quarter, Royce & Associates LP liquidated -15,320 of its shares in Lindsay Corporation while Neuberger Berman Investment Advis sold -20,264 shares. The Impax Asset Management Ltd.’s holdings currently number 619,918 shares at $80620335.9. According to the firm’s last 13F report, Nuance Investments LLC shares in the company at filing stood at 514,985 shares, roughly $59,645,563.
What are analyst thoughts on Lindsay Corporation?
Looking forward to the Lindsay Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Lindsay Corporation stock at $124.00 within the next 12 months, which represents almost -4.88 per cent growth from its previous closing price of $130.05. The highest analysts’ target for Lindsay Corporation stock projections is $145.00 and the lowest one is $82.00. Still, 5 analysts sharing their consensus rating for LNN stock in 2021 agree that it is a Hold.