Lamar Advertising Co (LAMR) to Issue Quarterly Dividend of $0.96 on September 30th

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

Lamar Advertising has increased its dividend by an average of 17.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Lamar Advertising has a dividend payout ratio of 75.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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%.

Shares of Lamar Advertising stock traded up $1.36 during mid-day trading on Wednesday, reaching $78.40. 17,263 shares of the stock were exchanged, compared to its average volume of 293,573. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 14.31 and a beta of 0.96. The firm has a 50-day simple moving average of $77.56 and a 200 day simple moving average of $79.52. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.33. Lamar Advertising has a fifty-two week low of $64.51 and a fifty-two week high of $84.50.

Lamar Advertising (NASDAQ:LAMR) last posted 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). The company had revenue of $448.74 million during the quarter, compared to the consensus estimate of $451.85 million. Lamar Advertising had a return on equity of 32.10% and a net margin of 21.39%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. On average, research analysts predict that Lamar Advertising will post 5.62 EPS for the current fiscal year.

LAMR has been the topic of several analyst reports. BidaskClub lowered shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Saturday. Imperial Capital reduced their price objective on Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating for the company in a research report on Wednesday. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently 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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