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

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Friday, April 4th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.20%.

Lindsay has raised its dividend payment 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 22.2% 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 Price Performance

LNN opened at $119.75 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of 19.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $140.27. The firm has a 50-day moving average of $131.04 and a 200 day moving average of $126.98.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same period in the prior year, the firm earned $1.64 earnings per share. The company’s revenue was up 23.5% compared to the same quarter last year. On average, research analysts expect that Lindsay will post 5.82 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on LNN shares. StockNews.com cut shares of Lindsay from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus raised their price target on Lindsay from $130.00 to $134.00 and gave the company a “hold” rating in a report on Friday.

Lindsay Company Profile

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.