Lindsay Corporation (LNN) To Go Ex-Dividend on November 14th

Lindsay Corporation (NYSE:LNN) announced a quarterly dividend on Monday, October 27th. Shareholders of record on Friday, November 14th will be paid a dividend of 0.37 per share by the industrial products company on Friday, November 28th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 14th.

Lindsay has raised its dividend payment 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 payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:LNN opened at $112.25 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.76 and a current ratio of 3.71. The company has a 50-day moving average of $130.35 and a 200-day moving average of $135.33. Lindsay has a 52 week low of $108.70 and a 52 week high of $150.96. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 16.56 and a beta of 0.84.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.05). The business had revenue of $153.56 million during the quarter, compared to analyst estimates of $156.91 million. Lindsay had a return on equity of 14.33% and a net margin of 10.95%.The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. As a group, equities research analysts anticipate that Lindsay will post 5.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Lindsay in a research report on Friday, October 31st. Wall Street Zen lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Stifel Nicolaus set a $122.00 price objective on Lindsay in a report on Friday, October 24th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.00.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.