Lindsay Co. to Issue Quarterly Dividend of $0.31 (LNN)

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Tuesday, April 2nd, Wall Street Journal reports. Investors of record on Friday, May 17th will be paid a dividend of 0.31 per share by the industrial products company on Friday, May 31st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, May 16th.

Lindsay has increased its dividend by an average of 3.5% per year over the last three years and has increased its dividend every year for the last 16 years. Lindsay has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lindsay to earn $3.14 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 39.5%.

Shares of NYSE:LNN opened at $83.68 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.85. The company has a market capitalization of $905.05 million, a P/E ratio of 28.46 and a beta of 0.33. Lindsay has a fifty-two week low of $82.41 and a fifty-two week high of $109.50.

Lindsay (NYSE:LNN) last announced its earnings results on Tuesday, April 9th. The industrial products company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.60). The company had revenue of $109.20 million for the quarter, compared to analyst estimates of $115.43 million. Lindsay had a return on equity of 9.72% and a net margin of 2.55%. The business’s quarterly revenue was down 16.2% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. On average, analysts forecast that Lindsay will post 1.84 EPS for the current fiscal year.

Several equities analysts have recently weighed in on LNN shares. Boenning Scattergood reaffirmed a “buy” rating and set a $132.00 price target on shares of Lindsay in a research note on Tuesday, January 8th. TheStreet cut shares of Lindsay from a “b” rating to a “c+” rating in a research note on Tuesday, January 8th. ValuEngine cut shares of Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. Finally, Zacks Investment Research raised shares of Lindsay from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $102.60.

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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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Dividend History for Lindsay (NYSE:LNN)

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