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.
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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