Lindsay Co. (LNN) to Distribute Quarterly Dividend of $0.36 on May 30th

Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, April 4th, RTT News reports. Shareholders 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 1.20%.

Lindsay has raised its dividend 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 21.4% meaning its dividend is sufficiently covered by earnings. 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 7.4 %

NYSE LNN opened at $119.75 on Friday. Lindsay has a 52 week low of $109.27 and a 52 week high of $140.27. The company has a market capitalization of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72. The stock’s 50-day moving average price is $131.04 and its 200-day moving average price is $127.01. 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 posted its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business had revenue of $187.10 million for the quarter, compared to analysts’ expectations of $174.50 million. During the same period last year, the firm earned $1.64 earnings per share. The business’s quarterly revenue was up 23.5% on a year-over-year basis. On average, equities research analysts predict that Lindsay will post 5.82 earnings per share for the current year.

Wall Street Analyst Weigh In

LNN has been the topic of a number of research reports. StockNews.com cut shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus lifted their price target on Lindsay from $130.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday.

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.