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

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Friday, January 10th,RTT News reports. Investors of record on Friday, February 14th will be paid 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 yield of 1.17%.

Lindsay has increased its dividend payment by an average of 2.7% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Lindsay has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $6.20 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 23.2%.

Lindsay Stock Performance

Shares of LNN stock opened at $122.92 on Friday. The firm’s 50 day moving average is $125.69 and its 200 day moving average is $121.88. The stock has a market capitalization of $1.33 billion, a P/E ratio of 20.42 and a beta of 0.66. Lindsay has a 12 month low of $109.27 and a 12 month high of $135.20. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. During the same period last year, the company earned $1.36 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lindsay will post 5.64 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on LNN shares. Stifel Nicolaus boosted their target price on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday. StockNews.com upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.