Lindsay Co. Declares Quarterly Dividend of $0.36 (NYSE:LNN)

Lindsay Co. (NYSE:LNN - Get Free Report) declared a quarterly dividend on Friday, April 4th, RTT News reports. Stockholders of record on Friday, May 16th will be paid a dividend of 0.36 per share by the industrial products company on Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, May 16th.

Lindsay has raised its dividend payment by an average of 2.7% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Lindsay has a dividend payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lindsay to earn $6.34 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 22.7%.

Lindsay Price Performance

Lindsay stock traded down $0.07 during midday trading on Monday, reaching $119.72. The company's stock had a trading volume of 225,550 shares, compared to its average volume of 86,528. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.30 billion, a PE ratio of 19.22 and a beta of 0.72. Lindsay has a 52 week low of $109.27 and a 52 week high of $140.27. The business has a 50-day moving average price of $131.04 and a 200-day moving average price of $127.02.

Lindsay (NYSE:LNN - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.55. The company had revenue of $187.10 million for the quarter, compared to analysts' expectations of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share. On average, sell-side analysts predict that Lindsay will post 5.82 EPS for the current year.

Remove Ads

Analysts Set New Price Targets

A number of analysts have weighed in on LNN shares. Stifel Nicolaus increased their target price on shares of Lindsay from $130.00 to $134.00 and gave the company a "hold" rating in a research report on Friday. StockNews.com lowered shares of Lindsay from a "buy" rating to a "hold" rating in a research note on Thursday.

About Lindsay

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.