FY2024 Earnings Estimate for Lindsay Co. (NYSE:LNN) Issued By Zacks Research

Lindsay Co. (NYSE:LNN) – Equities research analysts at Zacks Research decreased their FY2024 EPS estimates for shares of Lindsay in a research note issued on Tuesday, April 23rd. Zacks Research analyst S. Deb now anticipates that the industrial products company will earn $5.45 per share for the year, down from their previous forecast 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.

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

Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Friday, April 5th. Finally, StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.33.

Lindsay Stock Performance

Shares of LNN opened at $118.81 on Wednesday. The stock has a 50-day simple moving average of $117.68 and a 200-day simple moving average of $122.99. 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 has a market capitalization of $1.31 billion, a PE ratio of 18.95 and a beta of 0.61.

Institutional Trading of Lindsay

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new stake in shares of Lindsay in the fourth quarter valued at about $24,285,000. American Century Companies Inc. grew its stake in shares of Lindsay by 3,922.9% in the 3rd quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock valued at $22,445,000 after purchasing an additional 185,985 shares during the last quarter. Robeco Schweiz AG acquired a new position in shares of Lindsay in the third quarter valued at approximately $15,851,000. Norges Bank purchased a new stake in shares of Lindsay during the fourth quarter worth approximately $10,751,000. Finally, Nuance Investments LLC lifted its holdings in shares of Lindsay by 19.2% during the third quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company’s stock worth $41,267,000 after purchasing an additional 56,526 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Announces Dividend

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

Lindsay Company Profile

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.