Lakeland Industries, Inc. to Issue Quarterly Dividend of $0.03 (NASDAQ:LAKE)

Lakeland Industries, Inc. (NASDAQ:LAKE) declared a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.03 per share by the medical instruments supplier on Friday, November 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, November 15th.

Lakeland Industries has a dividend payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lakeland Industries to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 7.1%.

Lakeland Industries Stock Performance

NASDAQ LAKE traded down $0.81 on Wednesday, hitting $19.61. 38,685 shares of the company traded hands, compared to its average volume of 37,982. The company has a market capitalization of $145.11 million, a price-to-earnings ratio of 82.08 and a beta of 0.57. The company has a current ratio of 4.24, a quick ratio of 2.00 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average price is $20.20 and its 200-day moving average price is $21.04. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Wednesday, September 4th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.61). Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. The business had revenue of $38.51 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities analysts expect that Lakeland Industries will post 0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Lakeland Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th.

About Lakeland Industries

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.