Lindsay Co. (LNN) Plans $0.31 Quarterly Dividend

Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, October 19th, RTT News reports. Stockholders of record on Friday, November 16th will be paid a dividend of 0.31 per share by the industrial products company on Friday, November 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 15th.

Lindsay has increased its dividend payment by an average of 3.6% annually over the last three years and has increased its dividend every year for the last 15 years. Lindsay has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $3.72 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 33.3%.

Shares of Lindsay stock opened at $105.67 on Friday. The company has a market capitalization of $1.16 billion, a PE ratio of 36.76, a P/E/G ratio of 1.91 and a beta of 0.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.13 and a quick ratio of 3.14. Lindsay has a one year low of $83.57 and a one year high of $109.50.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, October 18th. The industrial products company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.38). The company had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $136.22 million. Lindsay had a return on equity of 11.53% and a net margin of 3.70%. Lindsay’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. As a group, research analysts forecast that Lindsay will post 3.15 earnings per share for the current year.

A number of equities analysts have recently commented on the company. ValuEngine cut Lindsay from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Stifel Nicolaus lifted their target price on Lindsay from $91.00 to $92.00 and gave the stock a “hold” rating in a report on Monday, October 8th. Zacks Investment Research upgraded Lindsay from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Monness Crespi & Hardt set a $70.00 price target on Lindsay and gave the stock a “sell” rating in a research note on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Lindsay presently has a consensus rating of “Hold” and an average price target of $91.33.

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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.

Further Reading: Calculate Your Return on Investment (ROI)

Dividend History for Lindsay (NYSE:LNN)

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