Lamar Advertising Co (LAMR) Plans Dividend Increase – $0.92 Per Share

Lamar Advertising Co (NASDAQ:LAMR) declared a quarterly dividend on Friday, November 30th, RTT News reports. Shareholders of record on Monday, December 17th will be given a dividend of 0.92 per share by the real estate investment trust on Friday, December 28th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.85%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.91.

Lamar Advertising has decreased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Lamar Advertising has a payout ratio of 71.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lamar Advertising to earn $5.51 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 66.1%.

Shares of Lamar Advertising stock traded up $0.52 on Friday, reaching $75.84. 419,828 shares of the company’s stock were exchanged, compared to its average volume of 525,143. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 15.02 and a beta of 1.13. Lamar Advertising has a 52 week low of $61.36 and a 52 week high of $80.68. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.43 and a current ratio of 1.43.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, November 8th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.44). Lamar Advertising had a return on equity of 27.51% and a net margin of 18.57%. The firm had revenue of $418.50 million during the quarter, compared to the consensus estimate of $421.29 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. Lamar Advertising’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that Lamar Advertising will post 5.12 EPS for the current year.

In other news, CFO Keith A. Istre sold 20,791 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $76.64, for a total transaction of $1,593,422.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.64% of the company’s stock.

A number of research firms recently commented on LAMR. MKM Partners increased their price target on Lamar Advertising to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Wells Fargo & Co raised their target price on Lamar Advertising from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, August 9th. ValuEngine lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. BidaskClub raised Lamar Advertising from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 15th. Finally, Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.33.

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About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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.

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Dividend History for Lamar Advertising (NASDAQ:LAMR)

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