Lamar Advertising (NASDAQ:LAMR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Lamar Advertising (NASDAQ:LAMR) from a hold rating to a buy rating in a research note released on Friday.

Other research analysts have also issued research reports about the company. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research report on Thursday, July 11th. TD Cowen lifted their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company started coverage on Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $125.00.

Lamar Advertising Stock Down 0.0 %

Shares of NASDAQ:LAMR opened at $136.10 on Friday. The firm has a market capitalization of $13.92 billion, a P/E ratio of 27.95 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a 50 day moving average price of $128.20 and a 200-day moving average price of $120.94. Lamar Advertising has a 52-week low of $79.94 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. During the same quarter last year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.11%. Lamar Advertising’s payout ratio is currently 114.99%.

Hedge Funds Weigh In On Lamar Advertising

Institutional investors and hedge funds have recently modified their holdings of the company. Foundations Investment Advisors LLC lifted its holdings in Lamar Advertising by 2.2% in the third quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock valued at $500,000 after acquiring an additional 80 shares during the period. Jamison Private Wealth Management Inc. lifted its stake in shares of Lamar Advertising by 6.6% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 84 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Lamar Advertising by 1.0% in the third quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock worth $1,329,000 after buying an additional 97 shares during the last quarter. SPC Financial Inc. increased its holdings in Lamar Advertising by 3.6% during the first quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 103 shares during the last quarter. Finally, Woodward Diversified Capital LLC boosted its stake in shares of Lamar Advertising by 2.6% during the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after acquiring an additional 113 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

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.