Lamar Advertising (LAMR) Now Covered by Analysts at Wolfe Research

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Wolfe Research assumed coverage on shares of Lamar Advertising (NASDAQ:LAMR) in a report published on Friday, The Fly reports. The firm issued an underperform rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on LAMR. BidaskClub upgraded Lamar Advertising from a buy rating to a strong-buy rating in a research report on Saturday, September 15th. Imperial Capital assumed coverage on Lamar Advertising in a research report on Thursday, September 13th. They issued an outperform rating and a $93.00 price objective on the stock. ValuEngine upgraded Lamar Advertising from a hold rating to a buy rating in a research report on Wednesday, September 12th. Morgan Stanley increased their price objective on Lamar Advertising from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Friday. Finally, Citigroup increased their price objective on Lamar Advertising from $68.00 to $69.00 and gave the company a sell rating in a research report on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $78.17.

NASDAQ LAMR traded down $2.60 during trading hours on Friday, reaching $73.43. 630,662 shares of the company’s stock were exchanged, compared to its average volume of 398,067. The firm has a market cap of $7.57 billion, a PE ratio of 14.54 and a beta of 1.11. Lamar Advertising has a one year low of $61.36 and a one year high of $80.68. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.43 and a quick ratio of 1.43.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, November 8th. The real estate investment trust reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.44). The business had revenue of $418.50 million for the quarter, compared to the consensus estimate of $421.29 million. Lamar Advertising had a return on equity of 27.51% and a net margin of 18.57%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. As a group, equities analysts expect that Lamar Advertising will post 5.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 17th will be paid a $0.92 dividend. The ex-dividend date is Friday, December 14th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.01%. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.91. Lamar Advertising’s dividend payout ratio is 72.08%.

In other news, CFO Keith A. Istre sold 20,791 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $76.64, for a total value of $1,593,422.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.64% of the company’s stock.

Several hedge funds have recently bought and sold shares of LAMR. Belpointe Asset Management LLC acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at $106,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of Lamar Advertising in the 2nd quarter valued at $137,000. Vectors Research Management LLC acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at $158,000. Qube Research & Technologies Ltd acquired a new position in shares of Lamar Advertising in the 2nd quarter valued at $164,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at $200,000. 81.33% of the stock is currently owned by institutional investors.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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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Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

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