Lakeland Industries, Inc. (LAKE) to Issue Quarterly Dividend of $0.03 on November 22nd

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 dividend yield of 0.61%. The ex-dividend date 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 Price Performance

Shares of LAKE stock traded down $0.66 on Wednesday, reaching $19.76. The company’s stock had a trading volume of 54,947 shares, compared to its average volume of 38,056. The stock’s fifty day simple moving average is $20.20 and its 200-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 current ratio of 4.24, a quick ratio of 2.00 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $146.22 million, a price-to-earnings ratio of 82.08 and a beta of 0.57.

Lakeland Industries (NASDAQ:LAKE) last issued 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 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 quarter in the prior year, the business earned $0.32 earnings per share. Analysts forecast that Lakeland Industries will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

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.