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

Lakeland Industries, Inc. (NASDAQ:LAKE) declared a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid 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 payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Research 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 3.1 %

Shares of Lakeland Industries stock traded down $0.64 on Wednesday, reaching $19.78. The company had a trading volume of 49,912 shares, compared to its average volume of 38,033. The firm’s 50 day moving average price is $20.20 and its two-hundred day moving average price is $21.04. The firm has a market cap of $146.37 million, a PE ratio of 82.08 and a beta of 0.57. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.00 and a current ratio of 4.24.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.61). The company had revenue of $38.51 million during the quarter, compared to analysts’ expectations of $41.10 million. Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. During the same period last year, the firm posted $0.32 earnings per share. Sell-side analysts predict that Lakeland Industries will post 0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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.