Lindsay Co. (LNN) to Issue Quarterly Dividend of $0.35 on May 31st

Lindsay Co. (NYSE:LNNGet Free Report) announced a quarterly dividend on Friday, April 5th, RTT News reports. Investors of record on Friday, May 17th will be given a dividend of 0.35 per share by the industrial products company on Friday, May 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 16th.

Lindsay has increased its dividend by an average of 2.8% per year over the last three years and has raised its dividend every year for the last 21 years. Lindsay has a payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $5.67 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 24.7%.

Lindsay Trading Down 0.6 %

Shares of LNN stock opened at $119.02 on Tuesday. The firm has a fifty day moving average price of $116.60 and a 200-day moving average price of $123.07. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 18.98 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31.

Lindsay (NYSE:LNNGet Free Report) last issued its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. The business had revenue of $151.50 million during the quarter, compared to analyst estimates of $172.06 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. Lindsay’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, equities analysts predict that Lindsay will post 5.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TheStreet cut Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Friday, April 5th. Finally, lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Read Our Latest Stock Analysis on LNN

Lindsay Company Profile

(Get Free Report)

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.

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Dividend History for Lindsay (NYSE:LNN)

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