Flexsteel Industries, Inc. (FLXS) To Go Ex-Dividend on September 25th

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend on Tuesday, September 10th, Zacks reports. Shareholders of record on Wednesday, September 25th will be given a dividend of 0.17 per share on Monday, October 7th. This represents a $0.68 annualized dividend and a yield of 1.55%. The ex-dividend date is Wednesday, September 25th. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.15.

Flexsteel Industries has increased its dividend by an average of 12.6% annually over the last three years. Flexsteel Industries has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Flexsteel Industries to earn $3.57 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 19.0%.

Flexsteel Industries Trading Down 3.5 %

NASDAQ FLXS opened at $43.87 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.57 and a quick ratio of 0.97. The stock’s 50-day moving average is $38.62 and its 200-day moving average is $36.41. Flexsteel Industries has a one year low of $15.67 and a one year high of $45.50. The firm has a market cap of $226.19 million, a P/E ratio of 14.87, a P/E/G ratio of 1.11 and a beta of 0.46.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, August 19th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Flexsteel Industries had a net margin of 2.55% and a return on equity of 7.98%. The firm had revenue of $110.82 million for the quarter, compared to the consensus estimate of $109.52 million. Sell-side analysts anticipate that Flexsteel Industries will post 3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Flexsteel Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.

About Flexsteel Industries

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.