Lamar Advertising Co Plans Quarterly Dividend of $0.83 (LAMR)
Lamar Advertising (NASDAQ:LAMR) announced a quarterly dividend on Wednesday, August 27th, American Banking News reports. Stockholders of record on Monday, September 22nd will be paid a dividend of 0.83 per share on Tuesday, September 30th. This represents a $3.32 annualized dividend and a dividend yield of 6.35%.
Several analysts have recently commented on the stock. Analysts at Evercore Partners reiterated an “overweight” rating on shares of Lamar Advertising in a research note on Wednesday, August 13th. They now have a $57.00 price target on the stock, down previously from $59.00. On the ratings front, analysts at Topeka Capital Markets cut their price target on shares of Lamar Advertising from $65.00 to $62.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley downgraded shares of Lamar Advertising from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $56.93.
Shares of Lamar Advertising (NASDAQ:LAMR) opened at 52.245 on Wednesday. Lamar Advertising has a 52 week low of $41.36 and a 52 week high of $54.48. The stock has a 50-day moving average of $51.62 and a 200-day moving average of $51.21. The company has a market cap of $4.978 billion and a price-to-earnings ratio of 131.70. Lamar Advertising also was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 7,640,737 shares, a drop of 18.5% from the July 31st total of 9,370,059 shares. Approximately 9.6% of the shares of the company are short sold. Based on an average trading volume of 1,635,610 shares, the days-to-cover ratio is presently 4.7 days.
Lamar Advertising (NASDAQ:LAMR) last released its earnings data on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.39 by $0.23. The company had revenue of $330.40 million for the quarter, compared to the consensus estimate of $333.27 million. During the same quarter last year, the company posted $0.22 earnings per share. Lamar Advertising’s revenue was up .8% compared to the same quarter last year. Analysts expect that Lamar Advertising will post $0.91 EPS for the current fiscal year.
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.