Lamar Advertising (LAMR) to Issue Quarterly Dividend of $1.55 on March 28th

Lamar Advertising (NASDAQ:LAMR) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Friday, March 14th. This is a 10.7% increase from Lamar Advertising’s previous quarterly dividend of $1.40.

Lamar Advertising has increased its dividend payment by an average of 15.6% per year over the last three years. Lamar Advertising has a dividend payout ratio of 104.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

NASDAQ LAMR opened at $116.76 on Wednesday. Lamar Advertising has a 12-month low of $108.80 and a 12-month high of $139.88. The firm’s 50 day moving average is $124.45 and its 200-day moving average is $127.97. The company has a market capitalization of $11.96 billion, a PE ratio of 33.08 and a beta of 1.53. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

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

Analysts Set New Price Targets

LAMR has been the subject of several recent research reports. Citigroup increased their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.