LNN - Lindsay Corporation: Possible Turnaround Play But Disappointing Dividend Growth
2024-07-05 14:30:04 ET
Summary
- Lindsay Corporation operates as an infrastructure and irrigation-based business, with majority exposure in the US.
- LNN has increased dividend payouts for over 21 consecutive years, but the dividend growth rate has been lackluster.
- Financial performance shows revenue decreases due to its vulnerability around interest rates.
- Future interest rate cuts may serve as a catalyst for a short-term opportunity to capture a price recovery.
- LNN stock's valuation suggests a potential upside of over 12% from the current price level.
Overview
As a dividend growth investor, I like to find opportunities across all sectors that may add value to my overall portfolio. A good place to start would be to first research a list of companies that have an established track record at raising their annual dividend payout amounts year over year. Lindsay Corporation ( LNN ) caught my attention because they've increased their dividend payouts for over 21 consecutive years in a row. While this serves as a good starting point to understand how much the company may value their dividend, there are more layers to this that can determine whether or not the stock fits my needs....
Lindsay Corporation: Possible Turnaround Play But Disappointing Dividend Growth