Lindsay Corporation to Issue Quarterly Dividend of $0.37 (NYSE:LNN)

Lindsay Corporation (NYSE:LNN) declared a quarterly dividend on Friday, January 9th. Shareholders of record on Friday, February 13th will be paid a dividend of 0.37 per share by the industrial products company on Friday, February 27th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, February 13th.

Lindsay has raised its dividend by an average of 0.0%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 22.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lindsay to earn $6.34 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 23.3%.

Lindsay Price Performance

Shares of LNN stock traded down $1.54 on Friday, hitting $125.10. 165,410 shares of the stock traded hands, compared to its average volume of 177,251. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.71 and a quick ratio of 2.76. Lindsay has a 52 week low of $106.10 and a 52 week high of $150.96. The firm has a 50 day simple moving average of $116.69 and a two-hundred day simple moving average of $129.85. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 18.45 and a beta of 0.80.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, January 8th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.08. Lindsay had a return on equity of 14.33% and a net margin of 10.95%.The firm had revenue of $155.82 million during the quarter, compared to analysts’ expectations of $166.81 million. During the same quarter last year, the business posted $1.57 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts predict that Lindsay will post 5.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LNN shares. Stifel Nicolaus upped their target price on shares of Lindsay from $122.00 to $128.00 and gave the company a “hold” rating in a research report on Friday. Wall Street Zen downgraded Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lindsay in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.00.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral?move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.