Lamar Advertising Co (NASDAQ:LAMR) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $66.00.
Several research firms recently weighed in on LAMR. Citigroup upped their price objective on shares of Lamar Advertising from $58.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, June 19th. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. BidaskClub cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $74.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Finally, Imperial Capital lowered their target price on Lamar Advertising from $93.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, April 3rd.
In other news, Director John E. Koerner III acquired 17,000 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $66.32 per share, with a total value of $1,127,440.00. 15.02% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Mine & Arao Wealth Creation & Management LLC. acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $9,149,000. Ancora Advisors LLC acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $38,000. Capital Bank & Trust Co acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $39,000. Finally, Advisory Alpha LLC acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $45,000. 78.22% of the stock is owned by institutional investors.
Shares of Lamar Advertising stock traded up $2.36 during trading on Tuesday, reaching $66.52. The company’s stock had a trading volume of 552,100 shares, compared to its average volume of 952,158. The business’s 50-day moving average price is $68.52 and its 200-day moving average price is $73.06. The firm has a market cap of $6.73 billion, a PE ratio of 18.53 and a beta of 1.38. Lamar Advertising has a 52 week low of $30.89 and a 52 week high of $96.82. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 3.91.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Lamar Advertising had a net margin of 20.35% and a return on equity of 31.25%. The business had revenue of $406.57 million during the quarter, compared to analysts’ expectations of $396.04 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. Lamar Advertising’s revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Lamar Advertising will post 4.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, June 19th. Lamar Advertising’s payout ratio is 34.48%.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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