Lamar Advertising Co (NASDAQ:LAMR) announced a quarterly dividend on Tuesday, September 1st, Zacks reports. Stockholders of record on Monday, September 21st will be paid a dividend of 0.50 per share by the real estate investment trust on Wednesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, September 18th.
Lamar Advertising has increased its dividend by 27.2% over the last three years and has increased its dividend every year for the last 1 years. Lamar Advertising has a payout ratio of 108.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of Lamar Advertising stock opened at $66.72 on Wednesday. The firm has a market cap of $6.73 billion, a P/E ratio of 24.53 and a beta of 1.29. The business has a 50-day moving average price of $66.83 and a 200 day moving average price of $63.41. Lamar Advertising has a fifty-two week low of $30.89 and a fifty-two week high of $96.82. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.80.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.68). Lamar Advertising had a net margin of 16.38% and a return on equity of 23.81%. The firm had revenue of $347.70 million for the quarter, compared to analyst estimates of $367.30 million. During the same period last year, the firm earned $1.18 earnings per share. Lamar Advertising’s revenue for the quarter was down 22.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Lamar Advertising will post 4.71 earnings per share for the current year.
Several equities research analysts recently weighed in on LAMR shares. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. BidaskClub lowered shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Wolfe Research raised shares of Lamar Advertising from an “underperform” rating to a “peer perform” rating and set a $73.00 price objective on the stock in a research note on Monday, July 27th. Morgan Stanley lifted their price target on shares of Lamar Advertising from $52.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. Finally, Citigroup raised their price objective on shares of Lamar Advertising from $58.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, June 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $67.17.
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.
Read More: What is the Nikkei 225 index?
Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.