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

Lakeland Industries, Inc. (NASDAQ:LAKE) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.03 per share by the medical instruments supplier on Wednesday, May 22nd. This represents a $0.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 14th.

Lakeland Industries has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lakeland Industries to earn $1.97 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 6.1%.

Lakeland Industries Stock Performance

LAKE traded up $0.92 during trading hours on Friday, hitting $17.81. The company’s stock had a trading volume of 28,414 shares, compared to its average volume of 23,264. Lakeland Industries has a fifty-two week low of $10.60 and a fifty-two week high of $19.66. The company has a current ratio of 5.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $131.26 million, a PE ratio of 25.08 and a beta of 0.49. The company has a 50-day simple moving average of $16.82 and a 200 day simple moving average of $16.52.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Wednesday, April 10th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). The firm had revenue of $31.20 million for the quarter, compared to the consensus estimate of $32.50 million. Lakeland Industries had a net margin of 4.33% and a return on equity of 6.63%. As a group, sell-side analysts expect that Lakeland Industries will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com lowered Lakeland Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Maxim Group assumed coverage on Lakeland Industries in a research note on Wednesday, April 24th. They set a “buy” rating and a $22.00 price target for the company. Finally, TheStreet raised Lakeland Industries from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st.

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.