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

Lakeland Industries, Inc. (NASDAQ:LAKE) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend 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. Equities research 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 Up 5.4 %

Shares of Lakeland Industries stock traded up $0.92 during trading hours on Friday, reaching $17.81. 28,414 shares of the company’s stock were exchanged, compared to its average volume of 23,264. The company has a 50 day moving average of $16.82 and a two-hundred day moving average of $16.52. 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 stock has a market cap of $131.26 million, a P/E ratio of 25.08 and a beta of 0.49.

Lakeland Industries (NASDAQ:LAKE) last issued its 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 during 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%. On average, sell-side analysts forecast that Lakeland Industries will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LAKE shares. StockNews.com cut shares of Lakeland Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Maxim Group initiated coverage on shares of Lakeland Industries in a report on Wednesday, April 24th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, TheStreet raised shares of Lakeland Industries from a “c+” rating to a “b-” rating in a report 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.