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.
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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