Lamar Advertising (LAMR) to Distribute Quarterly Dividend of $1.30 on June 28th

Lamar Advertising (NASDAQ:LAMR) declared a quarterly dividend on Thursday, May 16th, RTT News reports. Shareholders 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 annualized dividend and a yield of 4.34%.

Lamar Advertising has raised its dividend payment by an average of 26.0% annually over the last three years and has raised its dividend every year for the last 4 years. Lamar Advertising has a payout ratio of 90.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Down 0.3 %

Shares of NASDAQ LAMR opened at $119.91 on Friday. The stock has a market cap of $12.26 billion, a P/E ratio of 24.62 and a beta of 1.49. The business’s fifty day simple moving average is $116.00 and its 200-day simple moving average is $107.99. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $122.22. 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) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (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 company had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same period in the prior year, the business earned $1.41 EPS. Lamar Advertising’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts predict that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, the director now owns 32,178 shares in the company, valued at $3,862,968.90. The disclosure for this sale can be found here. 14.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LAMR has been the topic of a number of analyst reports. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report 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 raised their target price on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th.

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.