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

Lindsay Corporation (NYSE:LNN) declared a quarterly dividend on Friday, January 9th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Friday, February 13th.

Lindsay has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 22 years. Lindsay has a dividend payout ratio of 22.5% meaning 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 Trading Down 1.2%

Shares of Lindsay stock traded down $1.54 during trading on Friday, reaching $125.10. 165,410 shares of the stock were exchanged, compared to its average volume of 177,251. The company has a quick ratio of 2.76, a current ratio of 3.71 and a debt-to-equity ratio of 0.22. 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 has a 1 year low of $106.10 and a 1 year high of $150.96. The stock’s fifty day moving average is $116.69 and its 200 day moving average is $129.85.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, January 8th. The industrial products company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $166.81 million. During the same period last year, the company earned $1.57 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Lindsay will post 5.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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