William Blair Weighs in on Lindsay Co.’s FY2022 Earnings (NYSE:LNN)

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Lindsay Co. (NYSE:LNN) – Equities research analysts at William Blair upped their FY2022 earnings per share (EPS) estimates for Lindsay in a note issued to investors on Monday, January 11th. William Blair analyst B. Drab now anticipates that the industrial products company will post earnings per share of $3.88 for the year, up from their previous forecast of $3.42.

Other equities research analysts have also issued reports about the stock. Boenning Scattergood upgraded shares of Lindsay from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Thursday, October 22nd. BidaskClub upgraded shares of Lindsay from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 18th. Finally, Monness Crespi & Hardt raised Lindsay from a “sell” rating to a “neutral” rating in a research note on Friday, October 23rd. Three analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Lindsay currently has an average rating of “Buy” and a consensus price target of $117.00.

LNN stock opened at $141.50 on Wednesday. The company has a current ratio of 3.40, a quick ratio of 2.37 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $125.31 and its 200 day moving average is $108.02. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 39.75 and a beta of 0.29. Lindsay has a 1-year low of $71.86 and a 1-year high of $144.98.

Lindsay (NYSE:LNN) last posted its earnings results on Wednesday, January 6th. The industrial products company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.10). Lindsay had a return on equity of 13.65% and a net margin of 8.14%. The business had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $113.07 million. Lindsay’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 26th. Shareholders of record on Friday, February 12th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 11th. Lindsay’s payout ratio is currently 35.96%.

In other news, Director Michael Christodolou sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $140.44, for a total value of $1,263,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LNN. Sei Investments Co. bought a new position in shares of Lindsay during the third quarter valued at about $247,000. Paloma Partners Management Co bought a new position in Lindsay during the 3rd quarter valued at approximately $263,000. Jane Street Group LLC bought a new position in Lindsay during the 3rd quarter valued at approximately $336,000. Cubist Systematic Strategies LLC purchased a new stake in Lindsay in the 3rd quarter worth approximately $486,000. Finally, AQR Capital Management LLC bought a new stake in shares of Lindsay in the 3rd quarter worth approximately $303,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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 and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

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