Lindsay Co. (LNN) to Distribute Quarterly Dividend of $0.36 on February 28th

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Friday, January 10th,RTT News reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.36 per share by the industrial products company on Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%.

Lindsay has increased its dividend by an average of 2.7% 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 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lindsay to earn $6.20 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 23.2%.

Lindsay Trading Down 0.3 %

Shares of NYSE:LNN opened at $122.92 on Friday. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $135.20. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.33 billion, a PE ratio of 20.42 and a beta of 0.66. The company’s 50-day moving average price is $125.74 and its 200 day moving average price is $122.01.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. During the same quarter last year, the company posted $1.36 EPS. Lindsay’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that Lindsay will post 5.64 earnings per share for the current year.

Analyst Ratings Changes

LNN has been the subject of several analyst reports. StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Stifel Nicolaus lifted their target price on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.