Lamar Advertising (NASDAQ:LAMR) Plans Quarterly Dividend of $1.55

Lamar Advertising (NASDAQ:LAMR) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 1.55 per share by the real estate investment trust on Friday, March 28th. This represents a $6.20 annualized dividend and a yield of 5.31%. The ex-dividend date is Friday, March 14th. This is a 10.7% increase from Lamar Advertising’s previous quarterly dividend of $1.40.

Lamar Advertising has raised its dividend by an average of 15.6% annually over the last three years. Lamar Advertising has a dividend payout ratio of 104.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Lamar Advertising to earn $8.43 per share next year, which means the company should continue to be able to cover its $6.20 annual dividend with an expected future payout ratio of 73.5%.

Lamar Advertising Stock Down 4.6 %

LAMR stock opened at $116.76 on Wednesday. Lamar Advertising has a fifty-two week low of $108.80 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 33.08 and a beta of 1.53. The business’s fifty day moving average price is $124.45 and its two-hundred day moving average price is $127.97.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. On average, equities analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on LAMR shares. JPMorgan Chase & Co. dropped their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Citigroup lifted their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $134.60.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.