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

Lindsay Co. (NYSE:LNN) – Research analysts at Zacks Research reduced their Q3 2024 earnings estimates for 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 earn $1.34 per share for the quarter, down from their previous 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.

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

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

Lindsay Stock Up 0.8 %

Lindsay stock opened at $117.34 on Thursday. The stock has a market capitalization of $1.30 billion, a PE ratio of 18.71 and a beta of 0.61. Lindsay has a twelve month low of $106.46 and a twelve month high of $137.31. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $117.32 and a 200-day moving average of $122.91.

Institutional Trading of Lindsay

A number of large investors have recently added to or reduced their stakes in the company. Cardinal Capital Management lifted its stake in Lindsay by 31.9% in the first quarter. Cardinal Capital Management now owns 13,330 shares of the industrial products company’s stock valued at $1,568,000 after acquiring an additional 3,221 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Lindsay by 66.7% in the first 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. Quadrature Capital Ltd raised its position in shares of Lindsay by 6.8% in the fourth quarter. Quadrature Capital Ltd now owns 27,260 shares of the industrial products company’s stock valued at $3,521,000 after purchasing an additional 1,727 shares during the period. Vanguard Group Inc. raised its position in shares of Lindsay by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company’s stock valued at $165,301,000 after purchasing an additional 17,261 shares during the period. Finally, Robeco Schweiz AG raised its position in shares of Lindsay by 2.4% in the fourth quarter. Robeco Schweiz AG now owns 137,884 shares of the industrial products company’s stock valued at $17,809,000 after purchasing an additional 3,187 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s dividend payout ratio is currently 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.