Flexsteel Industries, Inc. (NASDAQ:FLXS) Announces Quarterly Dividend of $0.17

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Monday, December 16th,Wall Street Journal reports. Investors of record on Saturday, December 28th will be given a dividend of 0.17 per share on Wednesday, January 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, December 27th.

Flexsteel Industries has raised its dividend payment by an average of 12.6% per year over the last three years. Flexsteel Industries has a dividend payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flexsteel Industries to earn $3.84 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 17.7%.

Flexsteel Industries Price Performance

FLXS traded down $2.37 during midday trading on Monday, reaching $62.11. 31,276 shares of the company’s stock were exchanged, compared to its average volume of 31,834. The company has a quick ratio of 1.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $55.38 and a two-hundred day simple moving average of $43.57. The firm has a market capitalization of $323.47 million, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.57 and a beta of 0.40. Flexsteel Industries has a one year low of $17.10 and a one year high of $65.87.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, October 21st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. The business had revenue of $104.01 million during the quarter, compared to the consensus estimate of $101.60 million. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. During the same quarter last year, the company earned $0.14 EPS. As a group, research analysts predict that Flexsteel Industries will post 3.25 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Flexsteel Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.