Zacks Research Comments on Lindsay Co.’s Q3 2024 Earnings (NYSE:LNN)

Lindsay Co. (NYSE:LNN) – Equities researchers at Zacks Research cut their Q3 2024 EPS estimates for shares of Lindsay in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst S. Deb now forecasts that the industrial products company will post earnings of $1.34 per share for the quarter, down from their prior forecast of $1.64. The consensus estimate for Lindsay’s current full-year earnings is $5.30 per share. Zacks Research also issued estimates for Lindsay’s Q4 2024 earnings at $1.10 EPS, FY2025 earnings at $5.60 EPS, Q2 2026 earnings at $1.64 EPS and FY2026 earnings at $6.79 EPS.

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

Lindsay Stock Performance

LNN opened at $116.24 on Thursday. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average price is $117.18 and its two-hundred day moving average price is $122.91. Lindsay has a 1-year low of $106.46 and a 1-year high of $137.31. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 18.54 and a beta of 0.61.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, topping 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 firm had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. During the same quarter in the prior year, the company posted $1.63 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis.

Institutional Inflows and Outflows

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

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s payout ratio is 22.33%.

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.