LCI Industries (LCII) to Issue Quarterly Dividend of $1.15 on December 13th

LCI Industries (NYSE:LCII) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 1.15 per share on Friday, December 13th. This represents a $4.60 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, November 29th. This is an increase from LCI Industries’s previous quarterly dividend of $1.05.

LCI Industries has raised its dividend payment by an average of 14.5% per year over the last three years. LCI Industries has a payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect LCI Industries to earn $6.78 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 61.9%.

LCI Industries Stock Up 0.4 %

LCII stock opened at $114.67 on Friday. LCI Industries has a 52 week low of $96.18 and a 52 week high of $131.36. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $116.95 and a 200-day simple moving average of $111.76. The stock has a market capitalization of $2.92 billion, a P/E ratio of 22.31 and a beta of 1.41.

LCI Industries (NYSE:LCII) last announced its earnings results on Thursday, November 7th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The business had revenue of $915.50 million during the quarter, compared to analysts’ expectations of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 earnings per share. Equities analysts forecast that LCI Industries will post 5.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LCII has been the topic of a number of recent research reports. StockNews.com lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Raymond James started coverage on LCI Industries in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Truist Financial upped their target price on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $130.00 target price on shares of LCI Industries in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $112.20.

About LCI Industries

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.