Lamar Advertising (NASDAQ:LAMR) Announces $1.40 Quarterly Dividend

Lamar Advertising (NASDAQ:LAMR - Get Free Report) announced a quarterly dividend on Friday, December 6th,RTT News reports. Investors of record on Wednesday, December 18th will be given a dividend of 1.40 per share by the real estate investment trust on Monday, December 30th. This represents a $5.60 dividend on an annualized basis and a yield of 4.27%.

Lamar Advertising has raised its dividend payment by an average of 26.0% annually over the last three years. Lamar Advertising has a payout ratio of 98.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities analysts expect Lamar Advertising to earn $7.86 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 71.2%.

Lamar Advertising Price Performance

LAMR stock traded down $0.29 during trading on Friday, reaching $131.22. 281,515 shares of the company were exchanged, compared to its average volume of 409,226. The company has a market cap of $13.43 billion, a P/E ratio of 26.30 and a beta of 1.50. Lamar Advertising has a 52-week low of $100.15 and a 52-week high of $139.88. The stock's 50 day moving average price is $132.50 and its 200 day moving average price is $124.59. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business's revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 EPS. As a group, analysts predict that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LAMR has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $132.40.

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.

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