Lindsay Co. (NYSE:LNN) – Equities researchers at William Blair decreased their Q1 2022 earnings per share estimates for Lindsay in a report released on Friday, October 22nd. William Blair analyst B. Drab now anticipates that the industrial products company will earn $0.81 per share for the quarter, down from their prior forecast of $0.82. William Blair also issued estimates for Lindsay’s Q2 2022 earnings at $1.33 EPS, Q3 2022 earnings at $1.48 EPS, Q4 2022 earnings at $0.99 EPS and FY2022 earnings at $4.62 EPS.
Several other research firms have also weighed in on LNN. Stifel Nicolaus raised Lindsay from a “hold” rating to a “buy” rating and set a $178.00 price objective on the stock in a research note on Friday, October 22nd. Zacks Investment Research lowered Lindsay from a “hold” rating to a “strong sell” rating and set a $124.00 price target on the stock. in a research note on Monday.
Lindsay (NYSE:LNN) last issued its quarterly earnings results on Wednesday, October 20th. The industrial products company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.26). Lindsay had a return on equity of 15.81% and a net margin of 9.48%. The company had revenue of $153.65 million during the quarter, compared to the consensus estimate of $141.88 million. During the same quarter in the previous year, the business posted $1.35 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 30th. Stockholders of record on Tuesday, November 16th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.93%. Lindsay’s dividend payout ratio (DPR) is 37.08%.
A number of hedge funds have recently modified their holdings of LNN. Point72 Hong Kong Ltd purchased a new position in Lindsay in the first quarter worth $32,000. Tompkins Financial Corp purchased a new position in shares of Lindsay during the 3rd quarter valued at $46,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Lindsay during the 1st quarter valued at $89,000. Van ECK Associates Corp lifted its position in shares of Lindsay by 9.9% during the 1st quarter. Van ECK Associates Corp now owns 735 shares of the industrial products company’s stock valued at $122,000 after buying an additional 66 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Lindsay by 586.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,030 shares of the industrial products company’s stock valued at $156,000 after buying an additional 880 shares during the last quarter. Institutional investors and hedge funds own 86.16% of the company’s stock.
Lindsay Corp. provides proprietary water management and road infrastructure products and services. It operates its business through the following segments: Irrigation and Infrastructure. The Irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications.
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