Lindsay Corporation (LNN) to Issue Quarterly Dividend of $0.37 on February 27th

Lindsay Corporation (NYSE:LNN) announced a quarterly dividend on Friday, January 9th. Stockholders of record on Friday, February 13th will be given 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 1.1%. The ex-dividend date is Friday, February 13th.

Lindsay has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Lindsay has a 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 Up 0.7%

Shares of Lindsay stock opened at $134.20 on Wednesday. The stock has a market cap of $1.40 billion, a PE ratio of 19.88 and a beta of 0.82. The firm has a fifty day moving average price of $123.26 and a 200 day moving average price of $127.47. Lindsay has a 1 year low of $106.10 and a 1 year high of $150.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.42 and a quick ratio of 2.43.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, January 8th. The industrial products company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.46 by $0.08. The company had revenue of $155.82 million for the quarter, compared to analyst estimates of $166.81 million. Lindsay had a net margin of 11.02% and a return on equity of 14.01%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 earnings per share. Equities research analysts predict that Lindsay will post 5.82 earnings per share for the current year.

Wall Street Analyst Weigh In

LNN has been the subject of several analyst reports. Wall Street Zen cut 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 research note on Friday, October 31st. Finally, Stifel Nicolaus lifted their price target on Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a research note on Friday, January 9th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Lindsay currently has an average rating of “Hold” and an average price target of $128.00.

About Lindsay

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.