Lamar Advertising Co Declares Quarterly Dividend of $0.96 (NASDAQ:LAMR)

Lamar Advertising Co (NASDAQ:LAMR) declared a quarterly dividend on Thursday, August 22nd, Zacks reports. Investors of record on Monday, September 16th will be paid a dividend of 0.96 per share by the real estate investment trust on Monday, September 30th. This represents a $3.84 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Friday, September 13th.

Lamar Advertising has raised its dividend by an average of 17.7% per year over the last three years and has increased its dividend every year for the last 3 years. Lamar Advertising has a dividend payout ratio of 75.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Lamar Advertising to earn $6.01 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 63.9%.

LAMR stock traded up $1.29 during midday trading on Wednesday, reaching $78.33. 14,202 shares of the company were exchanged, compared to its average volume of 293,573. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.50 and a current ratio of 0.50. Lamar Advertising has a 1-year low of $64.51 and a 1-year high of $84.50. The stock’s 50-day simple moving average is $77.56 and its 200 day simple moving average is $79.52. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 14.24 and a beta of 0.96.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.42). Lamar Advertising had a return on equity of 32.10% and a net margin of 21.39%. The company had revenue of $448.74 million for the quarter, compared to analysts’ expectations of $451.85 million. During the same quarter in the prior year, the firm posted $1.02 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts anticipate that Lamar Advertising will post 5.62 earnings per share for the current year.

Several equities research analysts recently commented on LAMR shares. Imperial Capital cut their price target on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a research note on Wednesday. They noted that the move was a valuation call. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $80.75.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Dividend History for Lamar Advertising (NASDAQ:LAMR)

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