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

Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, January 10th,RTT News reports. Shareholders of record on Friday, February 14th will be given 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 yield of 1.17%.

Lindsay has raised its dividend payment by an average of 2.7% annually over the last three years and has raised its dividend every year for the last 22 years. Lindsay has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

LNN opened at $122.66 on Friday. The business’s 50-day moving average price is $125.69 and its two-hundred day moving average price is $121.88. Lindsay has a 1 year low of $109.27 and a 1 year high of $135.20. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 20.38 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 (NYSE:LNN) last released its quarterly 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 return on equity of 12.86% and a net margin of 10.91%. The firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same quarter last year, the business posted $1.36 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts expect that Lindsay will post 5.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.