Lamar Advertising (NASDAQ:LAMR) to Issue Quarterly Dividend of $1.30

Lamar Advertising (NASDAQ:LAMR) declared a quarterly dividend on Thursday, May 16th, RTT News reports. Stockholders of record on Monday, June 17th will be paid a dividend of 1.30 per share by the real estate investment trust on Friday, June 28th. This represents a $5.20 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Monday, June 17th.

Lamar Advertising has increased its dividend by an average of 26.0% annually over the last three years. Lamar Advertising has a dividend payout ratio of 90.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Lamar Advertising to earn $8.34 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 62.4%.

Lamar Advertising Stock Down 1.2 %

Shares of NASDAQ:LAMR opened at $114.61 on Friday. The company has a fifty day moving average of $116.45 and a 200-day moving average of $111.59. The company has a market capitalization of $11.72 billion, a PE ratio of 23.53 and a beta of 1.50. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $122.22.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.71). The company had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. On average, equities analysts predict that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LAMR shares. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Morgan Stanley increased their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th.

About Lamar Advertising

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.