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

Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, April 4th, RTT News reports. Investors of record on Friday, May 16th will be given 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 yield of 1.12%.

Lindsay has increased its dividend payment by an average of 2.7% per year over the last three years and has increased its dividend every year for the last 22 years. Lindsay has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Down 1.0 %

Lindsay stock opened at $129.13 on Friday. Lindsay has a 12 month low of $109.27 and a 12 month high of $140.27. The stock has a fifty day simple moving average of $131.41 and a two-hundred day simple moving average of $127.01. 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 firm has a market cap of $1.40 billion, a price-to-earnings ratio of 20.73 and a beta of 0.72.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm had revenue of $187.10 million during the quarter, compared to analyst estimates of $174.50 million. During the same period in the previous year, the business posted $1.64 earnings per share. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities analysts predict that Lindsay will post 5.82 EPS for the current fiscal year.

Analysts Set New Price Targets

LNN has been the subject of several research analyst reports. StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus raised their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th.

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.