FY2022 EPS Estimates for Lindsay Co. (NYSE:LNN) Increased by Analyst

Lindsay Co. (NYSE:LNN) – Equities research analysts at William Blair increased their FY2022 earnings estimates for Lindsay in a report issued on Monday, January 11th. William Blair analyst B. Drab now anticipates that the industrial products company will earn $3.88 per share for the year, up from their prior estimate of $3.42.

Lindsay (NYSE:LNN) last posted its earnings results on Wednesday, January 6th. The industrial products company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $113.07 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year.

Several other analysts also recently commented on LNN. BidaskClub raised shares of Lindsay from a “buy” rating to a “strong-buy” rating in a report on Friday, December 18th. Boenning Scattergood upgraded Lindsay from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Thursday, October 22nd. Finally, Monness Crespi & Hardt upgraded 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 given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $117.00.

NYSE:LNN opened at $141.50 on Wednesday. The company has a market cap of $1.54 billion, a P/E ratio of 39.75 and a beta of 0.29. The firm’s fifty day moving average price is $125.31 and its two-hundred day moving average price is $108.02. Lindsay has a one year low of $71.86 and a one year high of $144.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.40 and a quick ratio of 2.37.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can lifted its position in shares of Lindsay by 1,836.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 260,890 shares of the industrial products company’s stock valued at $2,638,000 after acquiring an additional 247,420 shares during the period. ProShare Advisors LLC acquired a new position in Lindsay in the third quarter valued at about $7,584,000. Amundi Pioneer Asset Management Inc. bought a new stake in Lindsay during the first quarter worth about $5,697,000. SG Americas Securities LLC lifted its position in Lindsay by 372.6% during the third quarter. SG Americas Securities LLC now owns 26,834 shares of the industrial products company’s stock worth $2,594,000 after purchasing an additional 21,156 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Lindsay during the third quarter worth about $1,141,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

In other Lindsay news, Director Michael Christodolou sold 9,000 shares of the stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $140.44, for a total transaction of $1,263,960.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 26th. Shareholders of record on Friday, February 12th will be issued a $0.32 dividend. 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 dividend payout ratio is currently 35.96%.

Lindsay Company Profile

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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