Q1 2024 EPS Estimates for Lindsay Co. Cut by Analyst (NYSE:LNN)

Lindsay Co. (NYSE:LNN) – Equities research analysts at Zacks Research cut their Q1 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 forecasts that the industrial products company will post earnings per share of $1.30 for the quarter, down from their prior estimate of $1.51. The consensus estimate for Lindsay’s current full-year earnings is $6.42 per share. Zacks Research also issued estimates for Lindsay’s Q1 2025 earnings at $1.56 EPS and Q3 2025 earnings at $1.80 EPS.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.63. Lindsay had a net margin of 10.74% and a return on equity of 16.84%. The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $157.82 million. During the same period last year, the firm posted $1.62 EPS. Lindsay’s revenue for the quarter was down 12.1% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the stock. Roth Capital raised shares of Lindsay from a “neutral” rating to a “buy” rating in a research note on Monday, October 23rd. Roth Mkm raised shares of Lindsay from a “neutral” rating to a “buy” rating and lifted their price target for the company from $128.00 to $150.00 in a research note on Monday, October 23rd. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Finally, Stifel Nicolaus cut shares of Lindsay from a “buy” rating to a “hold” rating and dropped their price target for the company from $146.00 to $135.00 in a research note on Friday, September 15th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lindsay presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Lindsay Price Performance

Shares of NYSE LNN opened at $128.18 on Friday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.97 and a beta of 0.62. Lindsay has a 12 month low of $106.46 and a 12 month high of $183.08. The firm’s 50 day simple moving average is $119.71 and its 200-day simple moving average is $122.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.58 and a quick ratio of 2.44.

Hedge Funds Weigh In On Lindsay

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Lindsay during the second quarter worth about $212,000. Sonen Capital LLC increased its stake in Lindsay by 30.3% in the second quarter. Sonen Capital LLC now owns 2,026 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 471 shares during the last quarter. SG Americas Securities LLC increased its stake in Lindsay by 548.8% in the second quarter. SG Americas Securities LLC now owns 14,930 shares of the industrial products company’s stock valued at $1,782,000 after purchasing an additional 12,629 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in Lindsay by 34.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 4,606 shares of the industrial products company’s stock valued at $696,000 after purchasing an additional 1,171 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Lindsay by 193,938.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 834,366 shares of the industrial products company’s stock valued at $99,573,000 after purchasing an additional 833,936 shares during the last quarter. 86.28% of the stock is owned by institutional investors and hedge funds.

Lindsay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 15th. Lindsay’s dividend payout ratio is currently 21.37%.

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.