FY2024 EPS Estimates for Lindsay Co. Reduced by Analyst (NYSE:LNN)

Lindsay Co. (NYSE:LNN) – Investment analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of Lindsay in a research report issued to clients and investors on Tuesday, April 23rd. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings per share of $5.45 for the year, down from their previous estimate of $5.95. The consensus estimate for Lindsay’s current full-year earnings is $5.46 per share. Zacks Research also issued estimates for Lindsay’s Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.46 EPS, Q3 2025 earnings at $1.37 EPS, Q4 2025 earnings at $1.40 EPS and Q1 2026 earnings at $1.66 EPS.

LNN has been the topic of a number of other reports. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a research report on Friday, April 5th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Lindsay has an average rating of “Moderate Buy” and an average target price of $138.33.

Lindsay Stock Up 1.7 %

Shares of NYSE LNN opened at $118.81 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.58 and a current ratio of 3.87. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31. The stock’s 50-day simple moving average is $117.68 and its 200-day simple moving average is $122.99. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 18.95 and a beta of 0.61.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The business had revenue of $151.50 million during the quarter, compared to the consensus estimate of $172.06 million. During the same period in the prior year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.18%. Lindsay’s dividend payout ratio is currently 22.33%.

Institutional Trading of Lindsay

A number of institutional investors and hedge funds have recently made changes to their positions in LNN. McGlone Suttner Wealth Management Inc. bought a new position in Lindsay during the 4th quarter worth $28,000. Quest Partners LLC bought a new position in shares of Lindsay during the fourth quarter worth about $51,000. CWM LLC increased its holdings in shares of Lindsay by 129.6% in the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 276 shares during the period. Tompkins Financial Corp lifted its position in Lindsay by 66.7% in the 1st quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 200 shares during the last quarter. Finally, Windmill Hill Asset Management Ltd acquired a new position in Lindsay during the 4th quarter valued at about $208,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.