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


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Lindsay Co. (NYSE:LNN) – Stock analysts at William Blair raised their FY2022 earnings per share estimates for shares of Lindsay in a research note issued to investors on Wednesday, April 7th. William Blair analyst B. Drab now forecasts that the industrial products company will post earnings of $4.12 per share for the year, up from their prior forecast of $3.88.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Monday, April 5th. The industrial products company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.22. Lindsay had a net margin of 7.89% and a return on equity of 12.26%. The firm had revenue of $143.60 million during the quarter, compared to analysts’ expectations of $132.50 million. During the same quarter last year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 26.2% on a year-over-year basis.

Separately, Zacks Investment Research cut shares of Lindsay from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a research report on Tuesday, March 9th.

Shares of LNN stock opened at $162.34 on Thursday. The company has a quick ratio of 2.37, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. Lindsay has a 52 week low of $81.13 and a 52 week high of $179.10. The stock has a market capitalization of $1.76 billion, a PE ratio of 47.19 and a beta of 0.32. The firm has a 50 day moving average of $164.61 and a two-hundred day moving average of $132.93.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.81%. The ex-dividend date is Thursday, May 13th. This is a boost from Lindsay’s previous quarterly dividend of $0.32. Lindsay’s dividend payout ratio (DPR) is currently 35.96%.

In other news, Director Michael Christodolou sold 1,000 shares of the firm’s stock in a transaction on Monday, January 25th. The shares were sold at an average price of $148.43, for a total value of $148,430.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Lindsay by 0.8% in the 4th quarter. Comerica Bank now owns 11,862 shares of the industrial products company’s stock valued at $1,778,000 after purchasing an additional 94 shares in the last quarter. Aperio Group LLC raised its holdings in shares of Lindsay by 6.9% in the 4th quarter. Aperio Group LLC now owns 2,474 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 159 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Lindsay in the 4th quarter valued at $25,000. Vantage Consulting Group Inc acquired a new stake in shares of Lindsay in the 4th quarter valued at $26,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Lindsay by 4.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,423 shares of the industrial products company’s stock valued at $825,000 after purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds own 87.18% 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. 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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