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

Lindsay Co. (NYSE:LNN) – Equities research analysts at Zacks Research dropped their FY2024 earnings per share estimates for Lindsay in a research note issued on Tuesday, April 23rd. Zacks Research analyst S. Deb now forecasts 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 posted its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company had revenue of $151.50 million during the quarter, compared to analysts’ expectations of $172.06 million. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year.

LNN has been the subject of a number of other reports. Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a report on Friday, April 5th. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, TheStreet downgraded Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.33.

Lindsay Trading Up 0.8 %

NYSE:LNN opened at $117.34 on Wednesday. The firm has a market cap of $1.30 billion, a PE ratio of 18.71 and a beta of 0.61. The stock has a fifty day moving average price of $117.32 and a 200 day moving average price of $122.91. Lindsay has a 12-month low of $106.46 and a 12-month high of $137.31. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Lindsay

Institutional investors and hedge funds have recently modified their holdings of the company. Heartland Advisors Inc. acquired a new stake in shares of Lindsay in the 3rd quarter worth approximately $4,744,000. GSA Capital Partners LLP grew its holdings in shares of Lindsay by 223.3% in the 3rd quarter. GSA Capital Partners LLP now owns 15,213 shares of the industrial products company’s stock worth $1,790,000 after acquiring an additional 10,507 shares during the period. Quadrature Capital Ltd grew its holdings in shares of Lindsay by 124.1% in the 3rd quarter. Quadrature Capital Ltd now owns 25,533 shares of the industrial products company’s stock worth $3,010,000 after acquiring an additional 14,138 shares during the period. Robeco Schweiz AG acquired a new stake in shares of Lindsay in the 3rd quarter worth approximately $15,851,000. Finally, Assenagon Asset Management S.A. lifted its stake in Lindsay by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 41,403 shares of the industrial products company’s stock valued at $5,348,000 after buying an additional 4,560 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.35 per share. 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 payout ratio is 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.