Lindsay Co. (NYSE:LNN) Forecasted to Earn Q3 2024 Earnings of $1.34 Per Share

Lindsay Co. (NYSE:LNN) – Analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of Lindsay in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst S. Deb now forecasts 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.

Other analysts have also issued research reports about the company. TheStreet lowered Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Northcoast Research upgraded Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Lindsay Stock Down 1.0 %

Shares of NYSE LNN opened at $116.24 on Thursday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.54 and a beta of 0.61. The business has a 50-day moving average of $117.18 and a 200-day moving average of $122.91. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. Lindsay has a 12 month low of $106.46 and a 12 month high of $137.31.

Lindsay (NYSE:LNN) last issued its quarterly earnings data 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. 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 analyst estimates of $172.06 million. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Lindsay’s revenue was down 8.8% on a year-over-year basis.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued 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 is presently 22.33%.

Institutional Trading of Lindsay

Large investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new stake in Lindsay in the 4th quarter worth approximately $28,000. Quest Partners LLC bought a new stake in Lindsay in the 4th quarter worth approximately $51,000. CWM LLC increased its stake in Lindsay by 129.6% in the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 276 shares during the last quarter. Tompkins Financial Corp increased its stake in Lindsay by 66.7% in the 1st quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 200 shares during the last quarter. Finally, Windmill Hill Asset Management Ltd bought a new stake in Lindsay in the 4th quarter worth approximately $208,000. Institutional investors own 89.94% of the company’s stock.

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.