Lindsay Co. (NYSE:LNN) to Post Q3 2024 Earnings of $1.34 Per Share, Zacks Research Forecasts

Lindsay Co. (NYSE:LNN) – Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for shares of Lindsay in a research report issued to clients and investors on Tuesday, April 23rd. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings of $1.34 per share 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.

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

Lindsay Stock Performance

NYSE:LNN opened at $116.37 on Thursday. The firm’s fifty day simple moving average is $117.48 and its 200 day simple moving average is $122.94. 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 twelve month low of $106.46 and a twelve month high of $137.31. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.56 and a beta of 0.61.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The firm had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. During the same period in the previous year, the company posted $1.63 earnings per share. Lindsay’s revenue was down 8.8% compared to the same quarter last year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. Lindsay’s payout ratio is 22.33%.

Hedge Funds Weigh In On Lindsay

Large investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. bought a new position in shares of Lindsay during the fourth quarter worth about $28,000. Quest Partners LLC bought a new position in shares of Lindsay during the fourth quarter worth about $51,000. Tompkins Financial Corp lifted its position in shares of Lindsay by 66.7% during the first quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 200 shares during the last quarter. CWM LLC lifted its position in shares of Lindsay by 129.6% during the fourth quarter. CWM LLC now owns 489 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 276 shares during the last quarter. Finally, Windmill Hill Asset Management Ltd bought a new position in shares of Lindsay during the fourth quarter worth about $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.