Lakeland Industries, Inc. (NASDAQ:LAKE) Announces $0.03 Quarterly Dividend

Lakeland Industries, Inc. (NASDAQ:LAKE) announced 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 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, November 15th.

Lakeland Industries has a dividend payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 3.2 %

Shares of LAKE stock traded down $0.66 on Wednesday, hitting $19.76. The stock had a trading volume of 54,947 shares, compared to its average volume of 38,056. The company has a quick ratio of 2.00, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $20.20 and a 200 day moving average price of $21.04. The company has a market cap of $146.22 million, a PE ratio of 82.08 and a beta of 0.57. Lakeland Industries has a one year low of $13.86 and a one year high of $26.10.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share 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 firm had revenue of $38.51 million during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Research analysts anticipate that Lakeland Industries will post 0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Lakeland Industries from a “hold” rating to a “sell” rating in a research note 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.