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.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.68). The company had revenue of $347.70 million for the quarter, compared to analysts’ expectations of $367.30 million. Lamar Advertising had a return on equity of 23.81% and a net margin of 16.38%. The business’s quarterly revenue was down 22.5% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. On average, research analysts forecast that Lamar Advertising will post 4.71 EPS for the current year.

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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Dividend History for Lamar Advertising (NASDAQ:LAMR)

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