Lindsay Co. (NYSE:LNN - Free Report) - Research analysts at Zacks Research dropped their Q3 2024 EPS estimates for Lindsay in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings of $1.34 per share for the quarter, down from their prior 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 - Get Free Report) last posted its quarterly earnings data 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. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The business had revenue of $151.50 million during the quarter, compared to analysts' expectations of $172.06 million. During the same period last year, the firm posted $1.63 earnings per share. The business's revenue was down 8.8% on a year-over-year basis.
A number of other research firms also recently commented on LNN. TheStreet downgraded shares of Lindsay from a "b-" rating to a "c+" rating in a report on Tuesday, March 5th. Northcoast Research raised 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. Finally, StockNews.com lowered shares of Lindsay from a "buy" rating to a "hold" rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.33.
Read Our Latest Research Report on LNN
Lindsay Price Performance
LNN stock traded up $1.03 during trading hours on Thursday, hitting $117.40. 71,360 shares of the stock traded hands, compared to its average volume of 88,020. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $117.48 and a 200 day simple moving average of $122.94. Lindsay has a one year low of $106.46 and a one year high of $137.31. The company has a market cap of $1.30 billion, a P/E ratio of 18.55 and a beta of 0.61.
Lindsay Announces Dividend
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 yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay's dividend payout ratio is currently 22.33%.
Institutional Investors Weigh In On Lindsay
Institutional investors have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lindsay during the 4th quarter valued at $28,000. Quest Partners LLC purchased a new stake in shares of Lindsay during the 4th quarter worth about $51,000. CWM LLC raised its stake in shares of Lindsay by 129.6% during the 4th quarter. CWM LLC now owns 489 shares of the industrial products company's stock worth $63,000 after purchasing an additional 276 shares in the last quarter. Tompkins Financial Corp grew its stake in shares of Lindsay by 66.7% in the 1st quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company's stock valued at $59,000 after buying an additional 200 shares in the last quarter. Finally, Windmill Hill Asset Management Ltd acquired a new position in Lindsay in the fourth quarter worth approximately $208,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.
About Lindsay
(
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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.
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