Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Monday, July 6th, RTT News reports. Stockholders of record on Monday, August 17th will be paid a dividend of 0.32 per share by the industrial products company on Monday, August 31st. This represents a $1.28 annualized dividend and a dividend yield of 1.38%.
Lindsay has increased its dividend by an average of 785.7% per year over the last three years and has increased its dividend annually for the last 17 consecutive years. Lindsay has a payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lindsay to earn $2.24 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 57.1%.
NYSE LNN opened at $92.95 on Tuesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 39.55 and a beta of 0.29. Lindsay has a twelve month low of $71.86 and a twelve month high of $111.76. The company has a current ratio of 3.16, a quick ratio of 2.11 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $92.33 and a 200 day moving average of $95.28.
Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $123.10 million during the quarter, compared to analyst estimates of $123.52 million. Lindsay had a return on equity of 10.81% and a net margin of 5.68%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. Equities analysts predict that Lindsay will post 2.62 EPS for the current fiscal year.
In other news, Director Michael Christodolou sold 5,500 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $100.45, for a total value of $552,475.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on LNN shares. TheStreet upgraded Lindsay from a “c+” rating to a “b-” rating in a research report on Thursday, July 2nd. Sidoti lowered Lindsay from a “buy” rating to a “neutral” rating and set a $91.00 price objective for the company. in a research report on Tuesday, April 7th. Finally, ValuEngine lowered Lindsay from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. Lindsay currently has a consensus rating of “Hold” and an average price target of $97.00.
Lindsay Company Profile
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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