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

Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, January 10th,RTT News reports. Stockholders 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 dividend yield of 1.17%.

Lindsay has increased its dividend payment by an average of 2.7% per year over the last three years and has raised its dividend every year for the last 22 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 Lindsay stock opened at $122.92 on Friday. The firm has a 50 day simple moving average of $125.74 and a 200 day simple moving average of $122.01. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $135.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. The firm has a market cap of $1.33 billion, a P/E ratio of 20.42 and a beta of 0.66.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LNN. StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus increased their price target on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday.

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.