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

Lakeland Industries, Inc. (NASDAQ:LAKE) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.03 per share by the medical instruments supplier on Wednesday, May 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, May 14th.

Lakeland Industries has a payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lakeland Industries to earn $1.97 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 6.1%.

Lakeland Industries Stock Performance

Shares of NASDAQ:LAKE traded up $0.92 during midday trading on Friday, reaching $17.81. The company’s stock had a trading volume of 28,414 shares, compared to its average volume of 23,264. The stock has a fifty day moving average of $16.82 and a 200 day moving average of $16.52. The firm has a market capitalization of $131.26 million, a PE ratio of 25.08 and a beta of 0.49. Lakeland Industries has a twelve month low of $10.60 and a twelve month high of $19.66. The company has a quick ratio of 2.74, a current ratio of 5.53 and a debt-to-equity ratio of 0.01.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Wednesday, April 10th. The medical instruments supplier reported $0.22 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.08). Lakeland Industries had a return on equity of 6.63% and a net margin of 4.33%. The company had revenue of $31.20 million for the quarter, compared to analyst estimates of $32.50 million. On average, equities analysts expect that Lakeland Industries will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of Lakeland Industries from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. StockNews.com cut shares of Lakeland Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Maxim Group assumed coverage on shares of Lakeland Industries in a research note on Wednesday, April 24th. They set a “buy” rating and a $22.00 target price on the stock.

Lakeland Industries Company Profile

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.