Lindsay Co. (LNN) Plans $0.31 Quarterly Dividend

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Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, October 19th, RTT News reports. Investors of record on Friday, November 16th will be paid a dividend of 0.31 per share by the industrial products company on Friday, November 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, November 15th.

Lindsay has increased its dividend by an average of 3.6% annually over the last three years and has increased its dividend every year for the last 15 years. Lindsay has a dividend payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lindsay to earn $3.72 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 33.3%.

LNN stock traded down $1.33 during midday trading on Friday, hitting $105.67. The stock had a trading volume of 100,760 shares, compared to its average volume of 124,511. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 1.91 and a beta of 0.41. Lindsay has a 52-week low of $83.57 and a 52-week high of $109.50. The company has a quick ratio of 3.14, a current ratio of 4.13 and a debt-to-equity ratio of 0.42.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, October 18th. The industrial products company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.38). Lindsay had a return on equity of 11.53% and a net margin of 3.70%. The company had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $136.22 million. During the same period in the prior year, the company posted $0.59 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. Equities research analysts expect that Lindsay will post 3.15 earnings per share for the current fiscal year.

A number of research firms have recently commented on LNN. Stifel Nicolaus cut their target price on Lindsay from $94.00 to $91.00 and set a “hold” rating on the stock in a research note on Tuesday, September 4th. Zacks Investment Research cut Lindsay from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. ValuEngine cut Lindsay from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Monness Crespi & Hardt set a $70.00 price objective on Lindsay and gave the company a “sell” rating in a research report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Lindsay presently has an average rating of “Hold” and a consensus price target of $91.33.

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Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

Featured Article: Return on Equity (ROE)

Dividend History for Lindsay (NYSE:LNN)

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