Research Analysts Offer Predictions for Lindsay Co.’s FY2024 Earnings (NYSE:LNN)

Lindsay Co. (NYSE:LNN) – Zacks Research cut their FY2024 earnings per share estimates for shares of Lindsay in a report issued on Tuesday, April 23rd. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings per share of $5.45 for the year, down from their previous forecast of $5.95. The consensus estimate for Lindsay’s current full-year earnings is $5.30 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 announced its earnings results 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. The business had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS.

Several other research analysts also recently weighed in on the company. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. TheStreet downgraded Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, Northcoast Research upgraded Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Lindsay Stock Up 0.8 %

Shares of NYSE LNN opened at $117.34 on Wednesday. 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 market capitalization of $1.30 billion, a PE ratio of 18.71 and a beta of 0.61. The stock’s fifty day simple moving average is $117.32 and its two-hundred day simple moving average is $122.91. Lindsay has a 12-month low of $106.46 and a 12-month high of $137.31.

Hedge Funds Weigh In On Lindsay

A number of hedge funds have recently made changes to their positions in LNN. Bank of New York Mellon Corp raised its holdings in shares of Lindsay by 7.0% during the third quarter. Bank of New York Mellon Corp now owns 211,195 shares of the industrial products company’s stock valued at $24,853,000 after acquiring an additional 13,760 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Lindsay by 48.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,332 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 756 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Lindsay in the third quarter valued at approximately $316,000. Annex Advisory Services LLC grew its position in shares of Lindsay by 26.0% in the third quarter. Annex Advisory Services LLC now owns 5,467 shares of the industrial products company’s stock valued at $643,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Lindsay in the third quarter valued at approximately $572,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Announces Dividend

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