2024-05-05 21:04:48 ET
Summary
- Lamar Advertising has generated moderate performance, gaining 13% in the past year and offering a secure 4% dividend.
- Q1 results showed revenue growth of 5.7% and adjusted funds from operations rose by 9.2%.
- The company's focus on local advertising and diverse customer base reduces risk, and the ongoing recovery in travel and increased commuting bode well for billboard advertising.
- Management communicated a dividend hike is likely, and I anticipate further guidance increases.
Shares of Lamar Advertising ( LAMR ) have been a moderate performer over the past year, gaining about 13% while also paying a secure 4% dividend. The company continues to benefit from a recovery in travel and associated advertising. I last covered Lamar in December , rating shares a buy, given my belief it was well positioned for ongoing dividend growth. Since then, shares have rallied by 8%, in-line with the S&P 500’s return. Q1 results were encouraging and consistent with my expectations for the year....
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Lamar Advertising: A Solid Q1 With Dividend Hikes Likely To Come