Lindsay (NYSE:LNN) Shares Gap Down - Here's What Happened

Key Points

• Lindsay shares gapped down premarket, opening at $107.04 after a $112.46 close and last trading around $107.06 on light volume (~2,023 shares).
• The company posted an earnings miss — $1.15 EPS vs. $1.60 expected — with revenue of $157.7M down 15.7% year‑over‑year and quarterly EPS falling from $2.44 a year earlier.
• Analysts have grown cautious: Stifel cut its price target to $113 (hold) and Zacks downgraded to strong sell, leaving an average MarketBeat rating of "Reduce" and an average price target of $113.

Lindsay Corporation (NYSE:LNN - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $112.46, but opened at $107.04. Lindsay shares last traded at $107.0560, with a volume of 2,023 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on LNN. Stifel Nicolaus lowered their target price on shares of Lindsay from $128.00 to $113.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Zacks Research downgraded shares of Lindsay from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $113.00.

Lindsay Trading Up 0.6%

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15. The business's 50 day moving average is $123.93 and its 200 day moving average is $122.57. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 19.72 and a beta of 0.82.

Lindsay (NYSE:LNN - Get Free Report) last issued its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.45). The firm had revenue of $157.72 million for the quarter, compared to analyst estimates of $163.52 million. Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 EPS. As a group, equities analysts expect that Lindsay Corporation will post 5.82 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 15th. Lindsay's dividend payout ratio is presently 27.11%.

Institutional Investors Weigh In On Lindsay

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Lindsay in the first quarter valued at about $1,758,000. Diversified Trust Co raised its holdings in shares of Lindsay by 8.8% in the first quarter. Diversified Trust Co now owns 2,165 shares of the industrial products company's stock valued at $258,000 after buying an additional 175 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Lindsay in the fourth quarter valued at about $778,000. Corient Private Wealth LLC raised its holdings in shares of Lindsay by 106.8% in the fourth quarter. Corient Private Wealth LLC now owns 8,854 shares of the industrial products company's stock valued at $1,044,000 after buying an additional 4,573 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Lindsay by 2,694.6% in the fourth quarter. Pacer Advisors Inc. now owns 29,679 shares of the industrial products company's stock valued at $3,498,000 after buying an additional 28,617 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Lindsay Company Profile

Lindsay Corporation NYSE: LNN is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.