Lindsay Co. (LNN) to Issue Quarterly Dividend of $0.36 on February 28th

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Friday, January 10th,RTT News reports. Stockholders 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 1.09%. The ex-dividend date is Friday, February 14th.

Lindsay has raised its dividend payment by an average of 2.7% per year over the last three years and has raised its dividend every year for the last 22 years. Lindsay has a dividend payout ratio of 22.2% meaning 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 Price Performance

Shares of Lindsay stock opened at $132.03 on Wednesday. The firm has a market cap of $1.44 billion, a P/E ratio of 21.19 and a beta of 0.67. Lindsay has a twelve month low of $109.27 and a twelve month high of $140.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The firm’s 50-day simple moving average is $128.02 and its 200-day simple moving average is $124.35.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 earnings per share. As a group, research analysts expect that Lindsay will post 5.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LNN. Stifel Nicolaus boosted their price target on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

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.