Zacks Research Analysts Reduce Earnings Estimates for Lindsay Co. (NYSE:LNN)

Lindsay Co. (NYSE:LNN - Free Report) - Investment analysts at Zacks Research reduced their FY2024 EPS estimates for shares of Lindsay in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings of $5.45 per share for the year, down from their previous 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 - Get Free Report) last posted its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The firm had revenue of $151.50 million for the quarter, compared to analysts' expectations of $172.06 million. During the same period in the previous year, the company posted $1.63 EPS. The company's quarterly revenue was down 8.8% compared to the same quarter last year.

Several other equities analysts have also recently weighed in on the stock. 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 shares of Lindsay from a "neutral" rating to a "buy" rating and set a $142.00 target price for the company in a research note on Friday, April 5th. Finally, TheStreet lowered shares of Lindsay from a "b-" rating to a "c+" rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.33.

Lindsay Trading Down 2.2 %

NYSE LNN traded down $2.59 on Wednesday, hitting $116.37. 87,030 shares of the stock were exchanged, compared to its average volume of 88,231. Lindsay has a 52-week low of $106.46 and a 52-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 has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.56 and a beta of 0.61. The company's 50-day moving average price is $117.48 and its two-hundred day moving average price is $122.94.

Institutional Investors Weigh In On Lindsay

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Lindsay by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company's stock worth $165,301,000 after acquiring an additional 17,261 shares during the last quarter. Nuance Investments LLC lifted its position in Lindsay by 19.2% during the 3rd quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company's stock worth $41,267,000 after acquiring an additional 56,526 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lindsay by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company's stock worth $40,310,000 after acquiring an additional 14,738 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Lindsay by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 211,195 shares of the industrial products company's stock worth $24,853,000 after acquiring an additional 13,760 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Lindsay by 3,922.9% during the 3rd quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company's stock worth $22,445,000 after acquiring an additional 185,985 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

Lindsay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, May 16th. Lindsay's payout ratio is presently 22.33%.

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.