Lindsay Corporation (NYSE:LNN) declared a quarterly dividend on Thursday, October 12th, RTT News reports. Shareholders of record on Thursday, November 16th will be paid a dividend of 0.30 per share by the industrial products company on Thursday, November 30th. This represents a $1.20 annualized dividend and a yield of 1.34%. The ex-dividend date is Wednesday, November 15th.
Lindsay Corporation has increased its dividend payment by an average of 32.5% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Lindsay Corporation has a dividend payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay Corporation to earn $3.59 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 33.4%.
Lindsay Corporation (NYSE LNN) opened at $89.52 on Tuesday. The company has a market capitalization of $949.79, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 2.00 and a beta of 0.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.18 and a quick ratio of 2.25. Lindsay Corporation has a 12-month low of $72.85 and a 12-month high of $95.04.
Lindsay Corporation (NYSE:LNN) last announced its quarterly earnings data on Thursday, October 12th. The industrial products company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.18. The company had revenue of $131.94 million for the quarter, compared to the consensus estimate of $134.83 million. Lindsay Corporation had a return on equity of 8.95% and a net margin of 4.47%. equities research analysts expect that Lindsay Corporation will post 2.95 earnings per share for the current fiscal year.
LNN has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Lindsay Corporation from $76.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, October 13th. TheStreet downgraded Lindsay Corporation from a “b” rating to a “c+” rating in a research report on Thursday, October 12th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, October 12th. BidaskClub downgraded Lindsay Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research raised Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $95.00.
Lindsay Corporation Company Profile
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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