FY2024 EPS Estimates for Lindsay Co. (NYSE:LNN) Lowered by Analyst

Lindsay Co. (NYSE:LNN) – Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Lindsay in a note issued to 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 previous forecast 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 posted its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company had revenue of $151.50 million for the quarter, compared to analyst estimates of $172.06 million. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis.

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

Lindsay Stock Down 2.2 %

Shares of NYSE LNN opened at $116.37 on Wednesday. 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 market cap of $1.28 billion, a price-to-earnings ratio of 18.56 and a beta of 0.61. Lindsay has a 12-month low of $106.46 and a 12-month high of $137.31. The firm’s 50-day simple moving average is $117.48 and its 200 day simple moving average is $122.94.

Institutional Investors Weigh In On Lindsay

Large investors have recently bought and sold shares of the company. Heartland Advisors Inc. bought a new stake in Lindsay during the 3rd quarter worth approximately $4,744,000. GSA Capital Partners LLP increased its position in shares of Lindsay by 223.3% during the third quarter. GSA Capital Partners LLP now owns 15,213 shares of the industrial products company’s stock worth $1,790,000 after acquiring an additional 10,507 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Lindsay by 124.1% during the third quarter. Quadrature Capital Ltd now owns 25,533 shares of the industrial products company’s stock worth $3,010,000 after acquiring an additional 14,138 shares during the period. Robeco Schweiz AG acquired a new position in Lindsay in the 3rd quarter worth $15,851,000. Finally, Assenagon Asset Management S.A. increased its holdings in Lindsay by 12.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 41,403 shares of the industrial products company’s stock worth $5,348,000 after purchasing an additional 4,560 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Announces Dividend

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