Lakeland Industries, Inc. (NASDAQ:LAKE) Announces $0.03 Quarterly Dividend

Lakeland Industries, Inc. (NASDAQ:LAKE) announced a quarterly dividend on Thursday, May 1st, RTT News reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.03 per share by the medical instruments supplier on Thursday, May 22nd. This represents a $0.12 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, May 15th.

Lakeland Industries has a payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Lakeland Industries to earn $1.66 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 7.2%.

Lakeland Industries Stock Up 4.1%

Lakeland Industries stock opened at $17.76 on Tuesday. Lakeland Industries has a one year low of $14.58 and a one year high of $27.28. The firm has a market capitalization of $168.92 million, a P/E ratio of -197.33 and a beta of 1.10. The company has a 50-day simple moving average of $17.99 and a 200-day simple moving average of $21.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.77 and a current ratio of 4.23.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Wednesday, April 9th. The medical instruments supplier reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.97). Lakeland Industries had a negative net margin of 0.42% and a positive return on equity of 1.66%. The firm had revenue of $46.60 million for the quarter, compared to analyst estimates of $47.10 million. During the same quarter last year, the business posted $0.72 earnings per share. As a group, equities analysts expect that Lakeland Industries will post 0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LAKE shares. StockNews.com upgraded Lakeland Industries to a “sell” rating in a report on Wednesday, May 7th. DA Davidson cut their price objective on Lakeland Industries from $28.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Lake Street Capital began coverage on Lakeland Industries in a research note on Tuesday, March 11th. They issued a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.