Lindsay Co. (NYSE:LNN) Plans Quarterly Dividend of $0.36

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

Lindsay has increased its dividend by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Lindsay has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities research 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. The company has a market cap of $1.33 billion, a PE ratio of 20.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. The firm’s 50 day moving average price is $125.69 and its 200-day moving average price is $121.88. Lindsay has a 52-week low of $109.27 and a 52-week high of $135.20.

Lindsay (NYSE:LNN) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $1.36 earnings per share. On average, equities research analysts expect that Lindsay will post 5.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Lindsay

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.