LCI Industries (NYSE:LCII) Raises Dividend to $1.15 Per Share

LCI Industries (NYSE:LCII) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Friday, November 29th will be given a dividend of 1.15 per share on Friday, December 13th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.03%. This is an increase from LCI Industries’s previous quarterly dividend of $1.05.

LCI Industries has raised its dividend payment by an average of 14.5% per year over the last three years. LCI Industries has a payout ratio of 61.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect LCI Industries to earn $6.78 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 61.9%.

LCI Industries Price Performance

NYSE:LCII opened at $114.16 on Friday. The stock’s 50-day simple moving average is $116.88 and its 200 day simple moving average is $111.69. The company has a market cap of $2.91 billion, a P/E ratio of 22.21 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. LCI Industries has a 52-week low of $96.18 and a 52-week high of $131.36.

LCI Industries (NYSE:LCII) last posted its earnings results on Thursday, November 7th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million for the quarter, compared to the consensus estimate of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 earnings per share. As a group, sell-side analysts forecast that LCI Industries will post 5.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LCII has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and set a $130.00 target price on shares of LCI Industries in a research note on Wednesday, August 7th. Truist Financial upped their target price on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Raymond James started coverage on LCI Industries in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, StockNews.com cut LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.20.

About LCI Industries

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.