Q3 2024 Earnings Forecast for Lindsay Co. Issued By Zacks Research (NYSE:LNN)

Lindsay Co. (NYSE:LNN) – Investment analysts at Zacks Research cut their Q3 2024 earnings estimates for shares of Lindsay in a research report issued on Tuesday, April 23rd. Zacks Research analyst S. Deb now forecasts that the industrial products company will post earnings per share of $1.34 for the quarter, down from their previous 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) last announced its earnings results on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.52 by $0.12. The firm had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS.

Other analysts have also issued reports about the stock. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Lindsay presently has an average rating of “Moderate Buy” and a consensus price target of $138.33.

Lindsay Stock Performance

Shares of LNN opened at $116.37 on Thursday. 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 PE ratio of 18.56 and a beta of 0.61. The company’s fifty day moving average price is $117.48 and its 200 day moving average price is $122.94. Lindsay has a one year low of $106.46 and a one year high of $137.31.

Lindsay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.20%. Lindsay’s dividend payout ratio (DPR) is presently 22.33%.

Hedge Funds Weigh In On Lindsay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LNN. Pacer Advisors Inc. acquired a new position in Lindsay in the fourth quarter valued at about $24,285,000. American Century Companies Inc. raised its stake in shares of Lindsay by 3,922.9% in the third 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. Robeco Schweiz AG bought a new position in shares of Lindsay in the third quarter worth about $15,851,000. Norges Bank bought a new position in shares of Lindsay in the fourth quarter worth about $10,751,000. Finally, Nuance Investments LLC raised its stake in shares of Lindsay by 19.2% in the third 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. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.