Lindsay Co. Plans Quarterly Dividend of $0.31 (NYSE:LNN)

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Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Monday, July 1st, RTT News reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.31 per share by the industrial products company on Friday, August 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 15th.

Lindsay has increased its dividend payment by an average of 3.5% annually 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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $2.64 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 47.0%.

Shares of Lindsay stock opened at $89.17 on Tuesday. Lindsay has a one year low of $73.00 and a one year high of $109.50. The business has a fifty day moving average of $86.48. The company has a market cap of $968.51 million, a PE ratio of 68.02 and a beta of 0.33. The company has a current ratio of 3.65, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43.

Lindsay (NYSE:LNN) last announced its earnings results on Tuesday, July 9th. The industrial products company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.31). Lindsay had a return on equity of 5.24% and a net margin of 1.21%. The company had revenue of $121.10 million during the quarter, compared to the consensus estimate of $128.63 million. During the same period in the prior year, the business posted $1.66 earnings per share. Lindsay’s revenue for the quarter was down 28.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Lindsay will post 1.22 EPS for the current fiscal year.

LNN has been the topic of a number of recent research reports. Boenning Scattergood cut Lindsay from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 15th. ValuEngine raised Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $102.60.

About Lindsay

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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