Lamar Advertising (LAMR) To Go Ex-Dividend on September 18th

Lamar Advertising (NASDAQ:LAMR) announced a quarterly dividend on Tuesday, August 27th, RTT News reports. Shareholders of record on Wednesday, September 18th will be paid a dividend of 1.40 per share by the real estate investment trust on Monday, September 30th. This represents a $5.60 annualized dividend and a yield of 4.33%. The ex-dividend date is Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30.

Lamar Advertising has raised its dividend payment by an average of 26.0% per year over the last three years. Lamar Advertising has a dividend payout ratio of 97.9% 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 $8.53 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 65.7%.

Lamar Advertising Stock Performance

LAMR stock opened at $129.44 on Monday. The firm has a market cap of $13.23 billion, a P/E ratio of 26.58 and a beta of 1.52. The stock’s 50 day simple moving average is $120.15 and its 200 day simple moving average is $117.86. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $129.51.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The company had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 earnings per share. As a group, equities research analysts predict that Lamar Advertising will post 7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen upped their price objective on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research report on Thursday, July 11th. JPMorgan Chase & Co. upped their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lamar Advertising presently has an average rating of “Hold” and a consensus price target of $123.25.

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.