Lamar Advertising Co (LAMR) to Issue Quarterly Dividend of $0.50 on September 30th
Lamar Advertising Co (NASDAQ:LAMR) declared a quarterly dividend on Tuesday, September 1st, Zacks reports. Investors of record on Monday, September 21st will be paid a dividend of 0.50 per share by the real estate investment trust on Wednesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, September 18th.
Lamar Advertising has increased its dividend payment by 27.2% over the last three years and has raised its dividend annually for the last 1 consecutive years. Lamar Advertising has a payout ratio of 108.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Lamar Advertising stock opened at $66.72 on Wednesday. The firm’s fifty day moving average price is $66.83 and its two-hundred day moving average price is $63.41. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 24.53 and a beta of 1.29. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.80. Lamar Advertising has a 1-year low of $30.89 and a 1-year high of $96.82.
LAMR has been the topic of several analyst reports. Citigroup lifted their target price on shares of Lamar Advertising from $58.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, June 19th. BidaskClub cut shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Wolfe Research upgraded shares of Lamar Advertising from an “underperform” rating to a “peer perform” rating and set a $73.00 price target on the stock in a research note on Monday, July 27th. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley upped their price target on shares of Lamar Advertising from $52.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $67.17.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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