Winnebago Industries, Inc. (WGO) to Issue $0.10 Quarterly Dividend
Winnebago Industries, Inc. (NYSE:WGO) declared a quarterly dividend on Wednesday, December 13th, RTT News reports. Investors of record on Wednesday, January 10th will be paid a dividend of 0.10 per share by the construction company on Wednesday, January 24th. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%.
Winnebago Industries has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Winnebago Industries to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.2%.
Shares of Winnebago Industries (NYSE:WGO) traded up $1.70 during midday trading on Wednesday, reaching $56.65. 423,481 shares of the company were exchanged, compared to its average volume of 511,635. The company has a market cap of $1,770.05, a price-to-earnings ratio of 18.93 and a beta of 2.06. Winnebago Industries has a 1-year low of $24.15 and a 1-year high of $57.20. The company has a current ratio of 1.88, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62.
Winnebago Industries announced that its board has authorized a share repurchase plan on Thursday, October 19th that permits the company to buyback $70.00 million in shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
A number of analysts have weighed in on WGO shares. Zacks Investment Research raised shares of Winnebago Industries from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research report on Thursday, October 5th. BMO Capital Markets reissued a “hold” rating and set a $34.00 target price on shares of Winnebago Industries in a research report on Friday, October 13th. SunTrust Banks reissued a “hold” rating and set a $45.00 target price on shares of Winnebago Industries in a research report on Friday, October 20th. They noted that the move was a valuation call. ValuEngine downgraded shares of Winnebago Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Robert W. Baird reissued an “outperform” rating and set a $48.00 target price (up previously from $38.00) on shares of Winnebago Industries in a research report on Friday, October 20th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $46.17.
About Winnebago Industries
Winnebago Industries, Inc is a manufacturer of recreation vehicles (RVs) used primarily in leisure travel and outdoor recreation activities. The Company designs, develops, manufactures and markets motorized and towable recreation products along with supporting products and services. Its other products manufactured by the Company consist of original equipment manufacturer (OEM) parts, including extruded aluminum and other component products for other manufacturers and commercial vehicles.
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