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

Lakeland Industries, Inc. (NASDAQ:LAKE) declared a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.03 per share by the medical instruments supplier on Friday, November 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, November 15th.

Lakeland Industries has a dividend payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lakeland Industries to earn $1.70 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 7.1%.

Lakeland Industries Trading Down 3.5 %

Shares of LAKE stock traded down $0.72 during mid-day trading on Wednesday, reaching $19.70. 36,558 shares of the stock traded hands, compared to its average volume of 37,972. The stock’s fifty day simple moving average is $20.20 and its two-hundred day simple moving average is $21.04. Lakeland Industries has a 1-year low of $13.86 and a 1-year high of $26.10. The company has a quick ratio of 2.00, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. The company has a market cap of $145.78 million, a price-to-earnings ratio of 83.88 and a beta of 0.57.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.61). The company had revenue of $38.51 million for the quarter, compared to the consensus estimate of $41.10 million. Lakeland Industries had a return on equity of 3.70% and a net margin of 1.38%. During the same period in the prior year, the business earned $0.32 earnings per share. On average, research analysts anticipate that Lakeland Industries will post 0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Lakeland Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th.

About Lakeland Industries

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.