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

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Friday, January 10th,RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, February 14th.

Lindsay has increased its dividend payment 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 22.2% indicating that 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 Trading Up 1.9 %

LNN opened at $132.03 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 21.19 and a beta of 0.67. The firm has a 50 day simple moving average of $128.02 and a 200 day simple moving average of $124.35. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $140.26.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. Lindsay’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 firm posted $1.36 earnings per share. On average, sell-side analysts anticipate that Lindsay will post 5.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus boosted their price objective on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, January 8th.

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.