Lamar Advertising (NASDAQ:LAMR) Plans Quarterly Dividend of $1.30

Lamar Advertising (NASDAQ:LAMR - Get Free Report) declared a quarterly dividend on Thursday, May 16th, RTT News reports. Stockholders of record on Monday, June 17th will be paid a dividend of 1.30 per share by the real estate investment trust on Friday, June 28th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%.

Lamar Advertising has increased its dividend payment by an average of 26.0% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Lamar Advertising has a payout ratio of 90.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Lamar Advertising to earn $8.34 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 62.4%.

Lamar Advertising Trading Down 1.3 %

NASDAQ LAMR traded down $1.60 during trading hours on Thursday, hitting $120.22. 279,968 shares of the company's stock were exchanged, compared to its average volume of 414,443. The stock has a 50-day simple moving average of $116.01 and a 200 day simple moving average of $107.91. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $122.22. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 24.69 and a beta of 1.49. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The firm had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same period last year, the business posted $1.41 EPS. The company's revenue was up 5.7% on a year-over-year basis. On average, equities analysts forecast that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on LAMR. StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their price target on Lamar Advertising from $92.00 to $109.00 and gave the stock a "neutral" rating in a report on Monday, February 26th. Finally, Morgan Stanley boosted their target price on Lamar Advertising from $105.00 to $110.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th.

Insider Activity at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of the business's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now directly owns 32,178 shares in the company, valued at approximately $3,862,968.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $1,189,700. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John E. Koerner III sold 17,000 shares of the business's stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total value of $2,040,850.00. Following the completion of the sale, the director now directly owns 32,178 shares of the company's stock, valued at approximately $3,862,968.90. The disclosure for this sale can be found here. 14.98% of the stock is currently owned by corporate insiders.

About Lamar Advertising

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.

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