Lamar Advertising (NASDAQ:LAMR) Increases Dividend to $1.55 Per Share

Lamar Advertising (NASDAQ:LAMR) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 1.55 per share by the real estate investment trust on Friday, March 28th. This represents a $6.20 dividend on an annualized basis and a yield of 4.70%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40.

Lamar Advertising has increased its dividend payment by an average of 15.6% per year over the last three years. Lamar Advertising has a dividend payout ratio of 89.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Lamar Advertising to earn $7.92 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 70.7%.

Lamar Advertising Stock Performance

Lamar Advertising stock traded down $0.90 during mid-day trading on Wednesday, reaching $132.00. 1,132,562 shares of the company traded hands, compared to its average volume of 464,553. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a fifty-two week low of $106.43 and a fifty-two week high of $139.88. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 26.40 and a beta of 1.51. The firm’s fifty day moving average is $124.76 and its two-hundred day moving average is $127.19.

Analyst Ratings Changes

A number of research analysts have issued reports on LAMR shares. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Company Profile

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.