FY2024 EPS Estimates for Lindsay Co. Cut by Zacks Research (NYSE:LNN)

Lindsay Co. (NYSE:LNN) – Equities researchers at Zacks Research dropped their FY2024 earnings per share 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 of $5.45 per share for the year, down from their prior 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.

Lindsay (NYSE:LNN) last announced its earnings results 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. The company had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. Lindsay’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share.

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

Lindsay Stock Down 2.2 %

LNN opened at $116.37 on Wednesday. Lindsay has a fifty-two week low of $106.46 and a fifty-two week high of $137.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. The company’s 50-day moving average is $117.48 and its 200 day moving average is $122.94. The firm has a market capitalization of $1.28 billion, a P/E ratio of 18.56 and a beta of 0.61.

Lindsay Announces Dividend

The company also recently declared 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 is Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.20%. Lindsay’s dividend payout ratio is presently 22.33%.

Institutional Investors Weigh In On Lindsay

Several institutional investors have recently added to or reduced their stakes in LNN. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Lindsay in the fourth quarter valued at approximately $28,000. Quest Partners LLC purchased a new position in Lindsay in the 4th quarter valued at approximately $51,000. Tompkins Financial Corp raised its holdings 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 acquiring an additional 200 shares during the period. CWM LLC lifted its position in shares of Lindsay by 129.6% during the fourth quarter. CWM LLC now owns 489 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 276 shares in the last quarter. Finally, Windmill Hill Asset Management Ltd purchased a new stake in shares of Lindsay during the fourth quarter worth $208,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

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.