Agricultural and Farm Machinery Company Lindsay to Report Earnings Tomorrow
Lindsay, a leading agricultural and farm machinery company listed on the New York Stock Exchange (NYSE) under the ticker symbol LNN, is set to report its earnings results tomorrow before the market opens. The company's financial performance has been a topic of interest among investors, who are looking for insights into the company's ability to navigate the challenging agricultural industry.
Lindsay's Recent Performance
In its previous quarter, Lindsay reported revenues of $155 million, which represented a 6.5% beat over analysts' expectations. However, this positive outcome was tempered by a significant miss on analysts' adjusted operating income estimates. The mixed results were likely due to various factors affecting the company's operations, including fluctuations in commodity prices and changes in global demand for agricultural products.
Analysts' Expectations
Going into tomorrow's earnings report, analysts are expecting Lindsay's revenue to grow by 5.2% year over year to $169.8 million, a reversal from the 8.4% decrease recorded in the same quarter last year. Adjusted earnings per share (EPS) are expected to come in at $1.40. While these projections suggest a modest improvement in the company's financial performance, investors will be closely watching the actual results to gauge the accuracy of analysts' estimates.
Revised Analyst Estimates
Over the last 30 days, analysts covering Lindsay have generally reconfirmed their estimates, indicating that they anticipate the company to maintain its course heading into earnings. However, this trend is worth noting in the context of the company's recent history, as Lindsay has missed Wall Street's revenue estimates six times over the last two years.
Comparison with Peers
As one of the first companies in its peer group to report earnings this season, Lindsay will be setting the tone for the rest of the sector. With stocks in the heavy machinery category having been hit hard over the last month, down 5.8% on average, investors are eager to see how Lindsay's results will impact the overall performance of its peers.
Price Target and Share Price
Heading into earnings, Lindsay's share price stands at $118.88, while analysts' average price target is $132. This implies a potential upside of around 11% from the current market price, making it an attractive option for investors looking to capitalize on the company's growth prospects.
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Conclusion
As Lindsay prepares to report its earnings results tomorrow, investors will be closely watching the company's financial performance for clues on its ability to navigate the challenging agricultural industry. With analysts' expectations pointing towards a modest improvement in revenue and adjusted EPS, the actual results will provide valuable insights into the company's growth prospects. Whether or not Lindsay is a buy or sell going into earnings remains to be seen, but one thing is certain: this quarter's report will set the tone for the rest of the sector.