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

Lindsay Co. (NYSE:LNN - Get Free Report) announced a quarterly dividend on Friday, January 10th,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.36 per share by the industrial products company on Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 1.17%.

Lindsay has raised its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Lindsay has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Lindsay to earn $6.20 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 23.2%.

Lindsay Trading Down 0.3 %

Shares of Lindsay stock traded down $0.34 during trading on Friday, hitting $122.92. The company's stock had a trading volume of 81,209 shares, compared to its average volume of 86,118. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 20.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. Lindsay has a 52 week low of $109.27 and a 52 week high of $135.20. The stock has a 50-day moving average price of $125.69 and a two-hundred day moving average price of $121.88.

Lindsay (NYSE:LNN - Get Free Report) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.18. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The business had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. During the same quarter in the previous year, the business earned $1.36 earnings per share. Lindsay's revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Lindsay will post 5.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com raised Lindsay from a "hold" rating to a "buy" rating in a report on Tuesday. Stifel Nicolaus boosted their target price on shares of Lindsay from $126.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday.

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.