Lamar Advertising Company (LAMR) to Issue Quarterly Dividend of $1.60 on June 30th

Lamar Advertising Company (NASDAQ:LAMR) declared a quarterly dividend on Thursday, May 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of 1.60 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, June 16th.

Lamar Advertising has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 5 years. Lamar Advertising has a payout ratio of 117.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Lamar Advertising to earn $8.81 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 72.6%.

Lamar Advertising Trading Down 1.3%

Shares of NASDAQ:LAMR opened at $145.54 on Friday. Lamar Advertising has a 12-month low of $113.05 and a 12-month high of $158.69. The business’s fifty day simple moving average is $134.65 and its 200-day simple moving average is $131.03. The company has a market capitalization of $14.77 billion, a PE ratio of 26.85 and a beta of 1.18. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. As a group, equities research analysts predict that Lamar Advertising will post 8.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LAMR shares. Wells Fargo & Company lifted their price target on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley set a $145.00 price target on Lamar Advertising in a report on Thursday, May 7th. Weiss Ratings upgraded Lamar Advertising from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, February 23rd. UBS Group set a $150.00 target price on Lamar Advertising in a research note on Monday, February 23rd. Finally, TD Cowen boosted their target price on Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Lamar Advertising Company Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.