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

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Friday, April 4th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.12%.

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 22.2% 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 %

LNN stock opened at $129.13 on Friday. The business’s 50-day moving average price is $131.41 and its 200-day moving average price is $127.01. The stock has a market cap of $1.40 billion, a P/E ratio of 20.73 and a beta of 0.72. Lindsay has a twelve month low of $109.27 and a twelve month high of $140.27. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.55. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 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 23.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, equities research analysts forecast that Lindsay will post 5.82 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus upped their price objective on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th.

Lindsay Company Profile

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.