Lamar Advertising (NASDAQ:LAMR) Receives $132.40 Average Target Price from Brokerages

Lamar Advertising (NASDAQ:LAMR) has been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $132.40.

A number of equities research analysts have commented on the company. TD Cowen raised their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company cut their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $126.41 on Wednesday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s fifty day moving average is $126.15 and its 200 day moving average is $126.47. The stock has a market cap of $12.94 billion, a P/E ratio of 25.28 and a beta of 1.50. Lamar Advertising has a one year low of $102.10 and a one year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. Lamar Advertising’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 earnings per share. Sell-side analysts anticipate that Lamar Advertising will post 7.49 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were given a $1.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 annualized dividend and a yield of 4.43%. Lamar Advertising’s dividend payout ratio is currently 112.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR grew its position in Lamar Advertising by 7.4% in the fourth quarter. Stephens Inc. AR now owns 28,806 shares of the real estate investment trust’s stock worth $3,507,000 after acquiring an additional 1,982 shares in the last quarter. Empowered Funds LLC grew its position in Lamar Advertising by 85.8% in the fourth quarter. Empowered Funds LLC now owns 31,155 shares of the real estate investment trust’s stock worth $3,793,000 after acquiring an additional 14,390 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its position in Lamar Advertising by 1.2% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 20,574 shares of the real estate investment trust’s stock worth $2,505,000 after acquiring an additional 242 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Lamar Advertising by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,413 shares of the real estate investment trust’s stock worth $2,242,000 after acquiring an additional 1,596 shares in the last quarter. Finally, Hedeker Wealth LLC grew its position in Lamar Advertising by 1.5% in the fourth quarter. Hedeker Wealth LLC now owns 17,962 shares of the real estate investment trust’s stock worth $2,187,000 after acquiring an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

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.