Lindsay Co. (NYSE:LNN – Free Report) – Equities research analysts at Zacks Research boosted their Q2 2024 EPS estimates for shares of Lindsay in a research report issued to clients and investors on Wednesday, November 1st. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings of $1.68 per share for the quarter, up from their prior estimate of $1.51. The consensus estimate for Lindsay’s current full-year earnings is $6.41 per share. Zacks Research also issued estimates for Lindsay’s Q3 2024 earnings at $1.74 EPS, Q4 2024 earnings at $1.56 EPS, FY2024 earnings at $6.29 EPS, Q2 2025 earnings at $1.75 EPS, Q4 2025 earnings at $1.78 EPS, FY2025 earnings at $6.90 EPS and FY2026 earnings at $7.77 EPS.
Several other equities analysts have also recently commented on the company. Stifel Nicolaus cut Lindsay from a “buy” rating to a “hold” rating and reduced their target price for the stock from $146.00 to $135.00 in a research report on Friday, September 15th. Roth Capital raised shares of Lindsay from a “neutral” rating to a “buy” rating in a research note on Monday, October 23rd. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Finally, Roth Mkm raised shares of Lindsay from a “neutral” rating to a “buy” rating and increased their price target for the stock from $128.00 to $150.00 in a report on Monday, October 23rd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.
Lindsay Price Performance
Shares of NYSE:LNN opened at $127.00 on Thursday. The company has a 50 day moving average of $119.59 and a 200 day moving average of $122.43. The company has a current ratio of 3.58, a quick ratio of 2.44 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.40 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.95 and a beta of 0.62. Lindsay has a 12 month low of $106.46 and a 12 month high of $183.08.
Lindsay (NYSE:LNN – Get Free Report) last posted its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.63. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $157.82 million. Lindsay had a return on equity of 16.84% and a net margin of 10.74%. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share.
Institutional Investors Weigh In On Lindsay
Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lindsay by 3.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,149 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 69 shares during the period. Arizona State Retirement System lifted its holdings in Lindsay by 2.9% in the 1st quarter. Arizona State Retirement System now owns 3,189 shares of the industrial products company’s stock worth $482,000 after buying an additional 91 shares during the period. Royal Bank of Canada grew its position in shares of Lindsay by 23.6% in the 3rd quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock worth $74,000 after buying an additional 98 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Lindsay by 7.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $219,000 after buying an additional 102 shares during the period. Finally, Gotham Asset Management LLC raised its holdings in shares of Lindsay by 9.0% during the first quarter. Gotham Asset Management LLC now owns 1,446 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 86.28% of the company’s stock.
Lindsay Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, November 15th. Lindsay’s payout ratio is 21.37%.
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.
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