Q3 2019 EPS Estimates for Lindsay Co. Cut by Analyst (LNN)

Lindsay Co. (NYSE:LNN) – Stock analysts at William Blair cut their Q3 2019 earnings estimates for shares of Lindsay in a research note issued to investors on Wednesday, April 10th. William Blair analyst B. Drab now anticipates that the industrial products company will post earnings of $0.68 per share for the quarter, down from their previous estimate of $1.06. William Blair also issued estimates for Lindsay’s FY2019 earnings at $1.43 EPS and FY2020 earnings at $2.91 EPS.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Tuesday, April 9th. The industrial products company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.60). The firm had revenue of $109.20 million for the quarter, compared to analyst estimates of $115.43 million. Lindsay had a return on equity of 9.72% and a net margin of 2.55%. Lindsay’s revenue for the quarter was down 16.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS.

Other analysts have also issued research reports about the company. ValuEngine lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet lowered Lindsay from a “b” rating to a “c+” rating in a research note on Tuesday, January 8th. Zacks Investment Research raised Lindsay from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $132.00 price target on shares of Lindsay in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $102.60.

Shares of LNN stock opened at $84.72 on Friday. The company has a current ratio of 3.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $915.33 million, a P/E ratio of 28.82 and a beta of 0.33. Lindsay has a one year low of $82.41 and a one year high of $109.50.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s dividend payout ratio is 42.18%.

A number of hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its stake in Lindsay by 30.9% in the third quarter. Teachers Advisors LLC now owns 26,047 shares of the industrial products company’s stock worth $2,611,000 after purchasing an additional 6,150 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Lindsay by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 234,631 shares of the industrial products company’s stock worth $23,519,000 after purchasing an additional 9,362 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Lindsay by 2.6% in the third quarter. Renaissance Technologies LLC now owns 479,500 shares of the industrial products company’s stock worth $48,065,000 after purchasing an additional 12,100 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Lindsay in the fourth quarter worth $998,000. Finally, Vanguard Group Inc boosted its stake in Lindsay by 2.1% in the third quarter. Vanguard Group Inc now owns 1,148,589 shares of the industrial products company’s stock worth $115,133,000 after purchasing an additional 23,123 shares in the last quarter. 92.93% of the stock is currently owned by institutional investors and hedge funds.

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's 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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Earnings History and Estimates for Lindsay (NYSE:LNN)

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