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

Lindsay Co. (NYSE:LNN) declared 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 yield of 1.17%.

Lindsay has increased its dividend 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 22.6% indicating that 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 Up 2.4 %

Shares of NYSE:LNN opened at $122.66 on Friday. The firm has a market cap of $1.33 billion, a P/E ratio of 20.38 and a beta of 0.66. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. Lindsay has a 12-month low of $109.27 and a 12-month high of $135.20. The business has a fifty day simple moving average of $125.69 and a 200 day simple moving average of $121.88.

Lindsay (NYSE:LNN) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. Lindsay’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.36 EPS. Analysts predict that Lindsay will post 5.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LNN. Stifel Nicolaus increased their price target on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday. StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a 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.